Finally read a breakdown of some of the contract numbers for Alex Rodriguez’ new Yankees contract. Of most immediate importance to Rangers fans is how much we’re still paying the Yankees. I know a lot was made over us saving a ton of money with Alex opting out. He did do that, but we’re not totally off the hook.
There was deferred money from the original contract still due. Those payments appear to have been changed, and we are apparently still paying $3 million a year in 08, 09, & 10. The original deferred numbers show a lot more than that $9 million owed from years 2001-2007. The three opted out years from 08-10 of the original contract would tally up to the $9 million. There’s deferred money from the actual played contract years of 2001-2003 while in Texas. Got traded to New York, they renegotiated the contract, and there was a change in deferred money from 2004-2007, but we still were on the hook for deferred money from those years (NY had some, too). This money was originally scheduled to be paid starting in 2016, and running through 2022. I cannot imagine all that money (which according to my notes was $26 million) was replaced by the $9 mil I saw in the new contract. I can’t imagine we still have to pay the $9 million in deferred money (which was slated for years 2023-2025) anyway (now in 08-10, with interest no less). Can any of the sports writers in the area make sense of that? MY HEAD HURTS!
A little more easier to understand is his salary. $27m in 08, $32m in 09 & 10, $31m in 11, $29m in 12, $28m in 13, $25m in 14, $21m in 15, $20m in 16 & 17. Stupid numbers, but they seem pretty straightforward. Given the amount of total dollars involved, I can’t imagine some of THAT isn’t deferred too, but I don’t see any notes on that.
There’s a $10 million signing bonus. $2 million of that was paid at signing I believe (Dec 13, 07). The rest is broken down in $1 million increments due every January 15th from years 2009 through 2013. There’s a final $3 million payment in on Jan 15, 2014.
There’s a $30 million marketing bonus tied to home run milestones. There’s a $6 million bonus for each of the following career home run records:
- 660 (Willie Mays)
- 714 (Babe Ruth)
- 755 (Hank Aaron)
- 762 (Barry Bonds)
- 763 (Barry Bonds)
Yeah, that’s right – he gets $12 million just for HR 762 & 763. Technically those last two are “tie current major league record, and break current major league record”. That’s Barry Bonds of course. It’s probably going to be 762 & 763 – I can’t imagine Bonds actually playing anywhere in 2008. He’s probably done.
I think at this point, it’s probably safe to assume that Alex owns one of these things himself.
Seriously, if there’s anyone with more detailed knowledge than me about the deferred money situation, I’d love to hear from you. Here’s my Arod page, where I have all the notes I’ve tried to keep since late in 2000 when we signed Arod originally. Thanks.