There were some rumors that GS was involved in the contract talks with A-rod and the Yankees. Apparently they would be covering some of his contract or something like that. Which group in GS would be responsible for financing this deal?
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I believe it would be the industry group for over-spending, under-performing athletic franchises.
an exec. from the principal investments group helped negotiate the deal. the connection was made by another Goldman guy who is A-rod's neighbor...all according to the ny times
a-rod slept with my friend.
It's all detailed here: http://blogs.wsj.com/deals/2007/11/15/yankees-a-rod-reach-deal-in-princ…
"New York Yankees third baseman Alex Rodriguez has struck an agreement in principle to re-sign with the baseball club, according to a person familiar with negotiations.
arThe agreement has not been signed, this person said, but the two sides are moving quickly towards an agreement and could have it finalized as early as Friday.
Full details of the agreement were not available Thursday evening, but the contract is believed to be worth around $300 million over 10 years. Gerry Cardinale, an executive in Goldman Sachs’ principal investments group helped negotiate the deal. He was brought in by another Goldman executive, John Mallory, who is a friend of Rodriguez. Goldman has an investment in the YES Network, the Yankees’ cable channel.
Calls to the Yankees and Rodriguez’s agent, Scott Boras, were not immediately returned.
At the end of the season, Rodriguez and Boras decided to opt out of the remaining three years of his contract with the Yankees, which were worth a reported $72 million, in order to negotiate with other teams. Reports at the time suggested Rodriguez was looking for a $350 million deal.
The Yankees had said they would not renew discussions with Rodriguez. A fresh contract requires them to pay $21 million that his old team, the Texas Rangers, had been picking up as part of his trade to New York.
But in recent days Rodriguez has been back in touch with Yankees management, revealing on his Web site that he had decided to re-engage with the team before heading into serious talks with other clubs."
two MDs from PWM
From NY Daily News
""""""""""""According to sources, A-Rod first contacted John Mallory, a Los Angeles-based managing director with Goldman Sachs who has a friendship with Rodriguez through Miami circles, looking for advice to jump-start negotiations with the Steinbrenner family.
Mallory then directed Rodriguez to Gerald Cardinale, a Goldman Sachs managing director and YES board member who is the point man for the firm's relationship with the Yankees.
Rodriguez's decision to reach out to the Yankees came roughly a week after his opt-out announcement made him a villain throughout the sports world, as the backlash against him and his agent, Scott Boras, was much harsher than he believed it would be.
Knowing the relationship between Goldman Sachs and the Yankees, Rodriguez decided that Mallory might be his best bet to get in touch directly with the Steinbrenners, prompting him to put the wheels in motion for a reconciliation.
He informed Mallory that he wanted to be a Yankee, that his wife, Cynthia, was behind that decision and any way they could achieve that goal would be satisfactory to them. Cardinale reached out to team president Randy Levine, who in turn relayed Rodriguez's message to Hank and Hal Steinbrenner, setting the stage for the unlikely reunion that has rounded into shape over the past 48-72 hours.
It is unclear how involved George Steinbrenner has been in the process, but it is apparent that his two sons are running the operation on a day-to-day basis.
The Boss' first experience with Goldman Sachs came back in the early 1970s when he bought the Yankees at a time when very few people in the financial world would even take Steinbrenner's call. Gus Levy, a Goldman Sachs senior partner at the time, not only took his call, but took him to lunch, leaving a good impression with Steinbrenner that he never forgot.""""""""""""
Hey Hammy, why don't you quiet down. *********************************************************
1 pwm and 1 pia
Honestly Gay-rod could have Gordon Gecko advising him and he would still suck. The guy is a tool and a cancer to any team. GS should advise someone like Mike Lowell on a deal, who is a proven winner and a team player. ohh and he does not cheat on his wife with strippers.
That's the dumbest thing anyone's ever said.
Mike Lowell's fucking washed up, check out his home/away splits only reason people think he's still decent is because he plays half his games at Fenway. A-Rod is the greatest player in MLB right now and is one of the all-time greats.
And this is coming from a Twins fan so fuck the Yankees and fuck the Red Sox too. They're both the same team at this point.
Gay-rod is a great player during the regular season but Georgie pays him to win championships not MVP titles and Hank Aaron awards.
Mike Lowell batted .324 in the playoffs. Gay-rod batted .314 and was out the first round. Who gives a shit about home and away splits when you are to busy winning a World Series MVP.
Bottom line Gay-rod is a choke artist and a fraud. What kind of chump tries to steal the spot light announcing his intent to declare free agency during the Red Sox World Series tour.
And Minnesota is basically a farm team for the Red Sox and Yankees. You can guarantee that Hunter and Santana will each be in either Boston or NY next year. Have fun with Coco Crisp chump.
Hate to break it to you bro, but A-Rod is one of the best players, regular or post-season, of this age, and possibly one of the best 50 of all-time. He will probably crush Bonds' HR record with ease, considering that he doesn't have any career-ending injuries.
There's almost never anything bad said about A-Rod, which is amazing for a guy of his talent. Consistently hits 30 HR 100RBI/yr. Yanks didn't lose because of him- everyone else simply didn't perform. They have no pitching and they are getting old. I'm not saying he's worth all this money (he'll be 42 at the end of his contract), but it is a FACT that A-Rod is one of the best all around players in the game today. For him to go to GS instead of the money hungry Boras to go back to the Pinstripes speaks VOLUMES about his character.
FYI- this is coming from a Red Sox fan.
Also MHwhatever you're an idiot. Of course you've got to care about Lowell's home/away splits when his away stats exactly match his shitty pre-Fenway production. The same Mike Lowell that was washed up for the Marlins? Yeah he's still around.
Who gives a fuck about RBI's? RBI's have more to do with position in the line-up and the rest of the team's performance than anything else. Also, being a "clutch" player is over-rated. If you make it to the bigs, you can play under pressure. Those guys are mental machines - their egos are impenetrable (with a few exceptions). Getting to the playoffs is half the battle, and you "dance with the horse who brung you". Don't throw around words like "clutch" and "RBI's".
A-Rod had an OBP of .422 and a SLG of .645. That is a great baseball player. Oh yeah...he plays defense too.
I hate the Yankees. I hate the Red Sox. But I do respect A-Rod as a ball player - Say what you will about his personal life. You don't have to respect him as a fucking husband. He's there to win games. And he tried to play the market. It didn't work out how he wanted it to. Tough shit. And if his news story was more interesting than the BoSox - fuck 'em! If people want to hear about A-Rod, that's their choice.
Oh - and the Yankees did NOT lose in the playoffs because of A-Rod.
yeah yankees lost because captain tax evader derek jeter couldn't hit a pitch to save his life
Bottom line is that A-Rod is a great player yes... but in the playoff's he does not come through the same that that Papi, crazy Manny, Beckett, and even Mike Lowell do in the playoffs.
The Yankees certainly did not win in the playoffs because of A-Rod either.
I will concede that Gay-Rod made a good move by speaking with the Master of the Universe, Buffet, even before GS.
http://sports.espn.go.com/mlb/news/story?id=3115789
Bottom line is that A-Rod is a great player yes... but in the playoff's he does not come through the same that that Papi, crazy Manny, Beckett, and even Mike Lowell do in the playoffs.
The Yankees certainly did not win in the playoffs because of A-Rod either.
I will concede that Gay-Rod made a good move by speaking with the Master of the Universe, Buffet, even before speaking with GS.
http://sports.espn.go.com/mlb/news/story?id=3115789
Bottom line is that A-Rod is a great player yes... but in the playoff's he does not come through the same that that Papi, crazy Manny, Beckett, and even Mike Lowell do in the playoffs.
The Yankees certainly did not win in the playoffs because of A-Rod either.
I will concede that Gay-Rod made a good move by speaking with the Master of the Universe, Buffet, even before he spoke with GS.
http://sports.espn.go.com/mlb/news/story?id=3115789
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