Baseball Musings
Baseball Musings
November 07, 2007
A-Rod Savings

Jon Daniels detailed the money Texas still owes Alex Rodriguez:

Rangers general manager Jon Daniels said Wednesday the team must fund the original $9 million in deferred payments Rodriguez was owed for the remainder of the $252 million, 10-year contract he signed with the team before the 2001 season.

That money, $3 million for each of the next three seasons, was reconfigured into an assignment bonus at the time of A-Rod's 2004 trade to the New York Yankees.

"Anything that was part of the assignment bonus is considered earned at the time to the trade," Daniels said.

That means Rodriguez walked away from $72 million when he opted out of the contract: salaries of $24 million owed by the Yankees in each of the next three seasons.

Texas did save $21.3 million because of A-Rod's decision to opt out, according to Daniels. As part of the payment schedule agreed to at the time of the trade, Texas agreed to pay the Yankees $8,116,000 in 2008, $7,101,500 in 2009 and $6,087,000 in 2010.


Posted by David Pinto at 09:46 PM | Players | TrackBack (0)
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