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Posted at 12:38 p.m., Wednesday, November 7, 2007

Baseball: Rangers still must fund $9M more for A-Rod

By Ronald Blum
Associated Press Baseball Writer

ORLANDO, Fla. — Alex Rodriguez will still be on the Texas Rangers' books for quite a while.

Rangers general manager Jon Daniels said today the team must fund the original $9 million in deferred payments Rodriguez was owed for the remainder of the $252 million, 10-year contract he signed with the team before the 2001 season.

That money, $3 million for each of the next three seasons, was reconfigured into an assignment bonus at the time of A-Rod's 2004 trade to the New York Yankees.

That means Rodriguez walked away from $72 million when he opted out of the contract: salaries of $24 million owed by the Yankees in each of the next three seasons.

Texas did save $21.3 million because of A-Rod's decision to opt out, according to Daniels. As part of the payment schedule agreed to at the time of the trade, Texas agreed to pay the Yankees $8,116,000 in 2008, $7,101,500 in 2009 and $6,087,000 in 2010.

Rodriguez's $36 million assignment bonus will accrue interest at 2 percent annually and will be paid to the player each June 15 from 2016-25.

While most teams have downplayed their interest in Rodriguez, the Los Angeles Angels have said they are exploring whether they'd want A-Rod. Agent Scott Boras said last weekend he wasn't going to detail his conversations with clubs about Rodriguez.

"We had an initial conversation with Scott, and it was introductory," new Angels general manager Tony Reagins said. "He probably makes any team that he's a part of better."

Reagins said if talks progressed, the Angels would welcome a chance to speak with Rodriguez. Reagins acknowledged that marketing, as well as baseball skills, would play a role in a decision to sign A-Rod.

"In this day and age, I think that is a part of it," he said.

Rodriguez, likely to win his third AL MVP award, is expected to sign another record deal. Before A-Rod terminated his contract with New York, Boras told the Yankees they had to offer $350 million just to get a meeting with the third baseman.