|Boras denies report of talks with potential Cubs owner on A-Rod|
|Written by Admin|
|Sunday, 23 September 2007 17:45|
Rodriguez can opt out of the final three years of his contract with the New York Yankees, which calls for him to receive $27 million in each of the next three seasons.
``A source with knowledge of the situation says Boras knows which group is most likely to be awarded the team,'' New York Magazine reported on its Web site this weekend. ``The source says Boras has already been in touch with that group about the possibility of a contract that could reach $30 million a year over the next 10 years while deferring a certain portion of money toward an eventual stake in the franchise.''
John Canning, chairman of private equity firm Madison Dearborn Partners LLC, is thought to be a favorite to buy the team from Tribune Co., which is in the process of being purchased by an entity controlled by real estate investor Sam Zell. Dallas Mavericks owner Mark Cuban submitted an application to examine the Cubs' finances.
Speaking before Sunday's 7-5 win over Toronto, Rodriguez said the report was ``nonsense,'' as far as he knew.
``Great players with great demand create great rumors,'' Boras said in a telephone interview with The Associated Press. ``While I would enjoy having lunch with Mark Cuban and Canning, at this point of the year that conversation would not include Alex Rodriguez. I have not talked to anyone.''
Boras also pointed out that it would violate major league rules for a player to have equity or potential equity in a franchise.
``It sounds like a silly story. We really don't believe it,'' Yankees president Randy Levine said. ``However, if it were true, that would be grounds to disqualify someone from becoming an owner before even filing the application. It would demonstrate a violation of major league rules prior to even owning a club. I talked to the commissioner, and he agrees.''
Rodriguez signed his $252 million, 10-year contract with Texas before the 2001 season, then was traded to the Yankees in 2004. As part of the trade, the Rangers owe the Yankees $8,116,000 next year, $7,101,500 in 2009 and $6,087,000 in 2010 - a total of $21,304,500.
Of the $27 million A-Rod is owed each year, $3 million is deferred annually at 2 percent interest and paid from 2016-25. At the time of the trade, the Rangers agreed to be responsible for those payments.