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A-Rod:
Baseball's first Quarter-Billion Dollar Man. December 11, 2000 --
Alex Rodriguez is no longer on the open market.
Alex Rodriguez agreed to a 10-year, $252 million deal with the Texas
Rangers. A deal which is the richest contract in sports history.
Rodriguez will receive $21 million per season from 2001-07 and has an escape clause after
the 2007 season. To keep him, the Rangers must give the 25-year-old shortstop either an
$8 million bump per season or $1 more per season than the highest paid player at that time. The deal includes a $1 million bonus each
season.
Rodriguez's agent, Scott Boras, and Rangers owner Tom Hicks are meeting
today with lawyers to finalize the deal. The deal does not include any special
perks that NY Mets' management have claimed A-Rod was seeking.
Rodriguez's deal is exactly double the previous record for a sports contract: a $126 million, six-year agreement in
October 1997 between forward Kevin Garnett and the NBA's
Minnesota Timberwolves.
"At first they were talking about $200 million -- $250 (million) came out of nowhere," said Rodriguez's new
teammate, first baseman Rafael Palmeiro. "It's just incredible."
The previous high for a baseball player was set just Saturday:
a $121 million, eight-year contract between lefthander Mike Hampton and the Colorado Rockies.
That huge contract deal will set A-Rod financially for life but he also
insisted he wanted to play for a winner. The Texas Rangers were
nothing near winners last year when they finished last in the AL West with a
71-91 record -- just two losses away from the worst record in the AL.
What about pitching? Their team pitching ranked No. 14 in the
league and the bullpen was an even bigger mess. Rangers relievers had a 5.44 ERA -- worst in the AL -- and blew a league-high 27
saves.
The team will hold a news conference at 7 p.m. ET today at the owners meetings to announce
the agreement. Rodriguez will not attend.
There will be a second news conference with Rodriguez on Tuesday at the Ballpark in
Arlington.
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