Warren Buffett Helps Alex Rodriguez

According to the Wall Street Journal, Warren Buffett advised Alex Rodriguez to approach the New York Yankees without invoking Scott Boras in negotations.

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.

Rodriguez, on Boras’ advise, opted out of the final three seasons of his record $252 million, 10-year contract on October 28. The Yankees had reiterated numerous times that if Arod 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.

A bit later, Rodriguez contacted Buffett, and Buffett told Arod to approach the Yankees without his agent, the Wall Street Journal reports.

After speaking with Buffet, 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.

This is the continuation of drawn-out saga that involves Alex Rodriguez, Scott Boras, and the New York Yankees. Personally, I am disliking Boras more and more by the day, and even though I don’t like Arod’s seesawing, this may have been Arod’s wisest move this offseason.

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~ by mlb2007playoffs on November 17, 2007.

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