A-Rod stays with Yankees

So much for any reunion with Joe Torre. Third baseman Alex Rodriguez has struck an agreement in principle to re-sign with the Yankees, according to the WSJ, citing a person familiar with the negotiations. The tentative deal is believed to be worth around $300 million over 10 years. That's a substantial drop from the $350 million he supposedly was asking as a free agent (and perhaps the reason why his discussions with the Dodgers never got very far). The Journal reports that Gerry Cardinale, an executive in Goldman Sachs's principal investments group, helped negotiate the deal (he was brought in by another Goldman executive who is a neighbor of A-Rod's in Miami). Goldman, by the way, has an investment in the Yankees's cable channel.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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