It's now official that A-Rod signed a new 10-year contract with the Yankees worth $275 million so he now holds a new record - the biggest baseball contract. And for A-Rod, that's what it's about - personal glory. And itsn't it so nice to see a happy A-Rod.
So how much better did A-Rod do? Remember Hank Steinbrenner at point said that he wanted A-Rod to pay for the $21.3 million subsidy from Texas that the Yankees lost when Rodriguez opted out of the last 3 years of the previous contract. That contract was worth $252 million and Rodriguez had earned $185.45 million. That means he would have earned $66.55 million in the last 3 years.
According to reports under the new contract he will earn $27 million next year and $32 million in 2009 and 2010. He will also get $4 million of his signing bonus in the first 3 years. If he hits 142 home-runs in the next 3 years (which is quite possible), he will earn a $6 million bonus for equaling Willie Mays' home-run level. That would earn him $101 million over the next 3 years. A raise of about $35 million.
Yeah those Steinbrenners are really tough negotiators. Like there were so many other teams in the running for his services.
