Filed under: Deals, Business of sports
In 2001, Alex Rodriguez, perhaps the finest slugger to ever play the game, inked an unprecendented 10-year, $252 million contract to jump from the Seattle Mariners to the Texas Rangers. Three years later, when the Texas management regained its sanity and realized the ruinous terms of the deal, they dealt A-Rod to the only team with the money to support such a contract, the New York Yankees.
With A-Rod and another future Hall-of-Famer at shortstop, Derek Jeter, the Yankees had the foundation to return to its status as perennial World Series champion. Unfortunately for the club, it hasn’t turned out that way. For A-Rod, however, things continue to improve.
His 2007 season was a monster; 54 home runs, 156 RBIs, slugging percentage of .645, American League MVP. Unfortunately, he continued what has become a maddening tendency to disappear in the playoffs, hitting like a bantamweight in the team’s loss to the Cleveland Indians.
Such a wipeout might diminish most people’s bargaining value, but A-Rod took an early-out option in his contract and went back out on the free agent market. After much bluster and posturing, the Yankees awarded him a new 10-year, $275 million contract. At 32, he should be set for the rest of his career, one in which he’ll almost certainly eclipse the home run record of Barry “better hitting through chemistry” Bonds.
When it comes to baseball contracts, in 2007 A-Rod hit one out of the park.
Be sure to check out more Money Winners of 2007.
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