Yankees Update: Yanks do not want to Pay $6M in Contract Incentives to A-Rod
The New York Yankees reportedly do not want to pay Alex Rodriguez $6 million in contract incentives and will try to void the third baseman's milestone bonuses.
When Rodriguez resigned with the Yankees in 2007, his contract details included $272 million over 10 years. At the time, Rodriguez also signed a separate marketing agreement that included $6 million bonuses each time Rodriquez reached a milestone. The milestones were tying the homerun records of Willie Mays, Babe Ruth, Hank Aaron and Barry Bonds. A-Rod is currently six homers away from Mays' 660.
For each milestone, the Yankees would have to pay Rodriguez within 15 days of designation. The Yankees would then have the right to use A-Rod's name and image in selling licensed products related to those milestones.
According to the New York Daily News, the Yankees do not believe that the contract incentives are valid anymore after Rodriguez was suspended from the league for doping. The team is reportedly prepared to fight Rodriguez if he chooses to file a grievance with the Players' Association.
Rodriguez tried to meet with the team earlier this week. Reports believed that the 39-year-old wanted to mend his relationship with the team. The Yankees, however, declined the offer.
"This is a relationship that is never going to be repaired," one source said.
A-Rod is set to return to spring training.
The Yankees have made it clear that A-Rod will not be starting at third base.