Sunday, February 15, 2004
HICKS BITES IT
It's a final, according to Scott Miller of SportsLine, who is saying the official announcement of the Alex-to-NY deal is coming this afternoon.
... Texas will pay $60 million of the remaining $179 million on A-Rod's contract, according to sources. The Rangers will pay $40 million of that up front and another $27 million will be deferred.
The math on it works like this: The Yankees will be paying Rodriguez, the reigning American League Most Valuable Player, $16 million a season on average, with Texas responsible for the other $9 million of A-Rod's $25 million annual salary.
Ouch...Hicks is still paying 36% (using purely the 9/25 figure) of Alex's remaining salary and he won't even be playing in Texas. So if I do some math, Alex made $73M out of the total $252M in Texas. The financial figures in the article have the Rangers' remaining bill somewhere between $60M and $67M -- I wish it was a little clearer.
So in perfect hindsight, let's all rewrite some of the articles that we read following the 2000 season to say --
"Alex Rodriguez surprised everyone today by signing with the Texas Rangers. The contract inked today by the All-Star Mariner shortstop will pay him $73M over three years with a $60M buyout clause and compensation from any team getting him after the buyout."
Let's hope everyone learned a little from all of this about blowing a big hole through the maximum salary ceiling. Screw the Rangers, Stars, ClearChannel, SFX, the whole thing. To hell with you, Tom Hicks.
[Edit ~12p -- Another way to look at it...the Rangers will have paid Alex for over half of his $252M when all is said and done, and he would have only played out three years out of the ten-year contract as a Ranger. In shopping terms, that'd be "THREE FOR THE PRICE OF FIVE!!" Sounds like Bavasi math or something. Let's wait three years down the road to see where Bavasi's math gets us...scary thoughts indeed. At least Hicks grossly overpaid for someone he knew was going to be damn good.]
[Edit ~12:45p -- Just made a grammar correction to make the "hindsight" sentence flow better. I'm watching the Daytona 500 here, and one thing's become apparent to me: these rampant commercials for male enhancement drugs (Leon Phelps would say "crazy wang pills") have got to go. Have you seen the Cialis ad? It reminds us that "erections lasting longer than four hours, though rare," require some sort of medical attention. In short, feminine hygiene and "crazy wang pills," no matter how much they're paying to get ad space in these big sporting events, are exactly what I don't want to see when I'm watching a sporting event.]
... Texas will pay $60 million of the remaining $179 million on A-Rod's contract, according to sources. The Rangers will pay $40 million of that up front and another $27 million will be deferred.
The math on it works like this: The Yankees will be paying Rodriguez, the reigning American League Most Valuable Player, $16 million a season on average, with Texas responsible for the other $9 million of A-Rod's $25 million annual salary.
Ouch...Hicks is still paying 36% (using purely the 9/25 figure) of Alex's remaining salary and he won't even be playing in Texas. So if I do some math, Alex made $73M out of the total $252M in Texas. The financial figures in the article have the Rangers' remaining bill somewhere between $60M and $67M -- I wish it was a little clearer.
So in perfect hindsight, let's all rewrite some of the articles that we read following the 2000 season to say --
"Alex Rodriguez surprised everyone today by signing with the Texas Rangers. The contract inked today by the All-Star Mariner shortstop will pay him $73M over three years with a $60M buyout clause and compensation from any team getting him after the buyout."
Let's hope everyone learned a little from all of this about blowing a big hole through the maximum salary ceiling. Screw the Rangers, Stars, ClearChannel, SFX, the whole thing. To hell with you, Tom Hicks.
[Edit ~12p -- Another way to look at it...the Rangers will have paid Alex for over half of his $252M when all is said and done, and he would have only played out three years out of the ten-year contract as a Ranger. In shopping terms, that'd be "THREE FOR THE PRICE OF FIVE!!" Sounds like Bavasi math or something. Let's wait three years down the road to see where Bavasi's math gets us...scary thoughts indeed. At least Hicks grossly overpaid for someone he knew was going to be damn good.]
[Edit ~12:45p -- Just made a grammar correction to make the "hindsight" sentence flow better. I'm watching the Daytona 500 here, and one thing's become apparent to me: these rampant commercials for male enhancement drugs (Leon Phelps would say "crazy wang pills") have got to go. Have you seen the Cialis ad? It reminds us that "erections lasting longer than four hours, though rare," require some sort of medical attention. In short, feminine hygiene and "crazy wang pills," no matter how much they're paying to get ad space in these big sporting events, are exactly what I don't want to see when I'm watching a sporting event.]
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