NEW YORK - Alex Rodriguez and the New York Yankees have agreed to the outline of a US$275-million, 10-year contract, a deal that potentially would allow him to earn millions more if he sets the career home-run record.
The amount of the guaranteed money was revealed by a person familiar with the negotiations who spoke Thursday on condition of anonymity because the deal hasn't been finalized. A-Rod met Wednesday in Tampa, Fla., with the Steinbrenner brothers but the parameters of the deal were set in place last weekend.
"Yeah, I could say that," Yankees senior vice president Hank Steinbrenner said. "The meeting was a final get-together. He wanted to make sure myself and my brother knew that he was sincere and serious."
The Yankees still must draft the agreement with Rodriguez's agent, Scott Boras.