Posted at 8:36 a.m., Saturday, November 17, 2007
Baseball: A-Rod advised to go around agent Boras
Associated Press
NEW YORK — Warren Buffett advised Alex Rodriguez to approach the New York Yankees and go around agent Scott Boras, The Wall Street Journal reported today.The newspaper cited a person familiar with the matter, whom it did not identify.
"A-Rod really loves being a Yankee," Buffett was quoted as saying. He wouldn't comment on the substance of any discussions with the player.
The two became friends several years ago.
Rodriguez, on Boras' advise, opted out of the final three seasons of his record $252 million, 10-year contract on Oct. 28. The Yankees had said many times that if he opted out, they wouldn't negotiate because they would lose $21.3 million from Texas for the final three seasons that was agreed to at the time of the 2004 trade, money to offset the $72 million New York owed from 2008-10.
Upset with developments after he opted out, Rodriguez contacted Buffett, and the investor told him to approach the Yankees without his agent, the Journal said.
After speaking with the investor, Rodriguez contacted a managing director at Goldman Sachs that he knew, John Mallory, who then got in touch with Gerald Cardinale, a Goldman Sachs managing director who has worked with the Yankees and their YES Network.
With the assistance of the two Goldman executives, Rodriguez and the Yankees negotiated a $275 million, 10-year contract that is in the process of being finalized.
