February 17, 2004  
Volume 97, Issue 76  

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SPORTS

A-Rod to play for Yankees
Jeter to stay at SS, A-Rod to move to 3B

NEW YORK (AP) — Alex Rodriguez has moved one step closer to playing for the New York Yankees.

The Yankees and the Texas Rangers finalized the terms of a trade Sunday, and the players’ association gave its approval. The last hurdle was for commissioner Bud Selig to OK the deal, a high-ranking baseball official told The Associated Press on the condition of anonymity.

The Rangers will pay US$67 million of the $179 million left on the AL MVP’s record contract. Texas will get all-star second baseman Alfonso Soriano and a player to be named.

Approval from Selig was expected later Sunday or Monday, and the Yankees began planning for a news conference today in New York to introduce the first reigning MVP ever traded.

Texas will wind up paying $140 million for three seasons with Rodriguez. The Yankees will owe him $112 million for seven years.

Under the deal, the Yankees pay Rodriguez $15 million in each of the next three seasons, $16 million each in 2007 and 2008, $17 million in 2009 and $18 million in 2010, according to contract information obtained by The AP from player and management sources.

In each of the first four years, $1 million will be deferred without interest, to be paid in 2011.

Texas will pay $43 million of Rodriguez’s salary over the remaining seven years: $3 million in 2004, $6 million each in 2005 and 2006, $7 million in 2007, $8 million in 2009 and $6 million in 2010. In addition, the Rangers will pay the $24 million remaining in deferred money from the original contract, with the interest rate lowered from three per cent to two per cent.

All the deferred money owed by Texas — $36 million including salaries from 2001-03 — will be lumped with the original $10 million signing bonus, of which $4 million is still owed. The payout schedule will be pushed back to 2016-2025 from 2011-20.

In exchange for the alterations, which devalue the contract slightly, Rodriguez will receive a hotel suite on road trips and have the right to link his website to the Yankees’ site.

 

 

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