A-Rod Stays, Thanks to Wall St.

Goldman Sachs exec brokers deal
By Peter Fearon,  Newser Staff
Posted Nov 16, 2007 2:19 AM CST
Alex Rodriguez hits his 499th career home run against the Royals in this July file photo in Kansas City, Mo. Rodriguez and the Yankees have agreed to the outline of a US$275 million, 10-year contract,...   (Associated Press)
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(Newser) – Alex Rodriguez will be the New York Yankees' third baseman next season. One of Wall Street's power elite convinced A-Rod to sign a new contract as early as today, reports the Wall Street Journal. Gerry Cardinale, an executive at Goldman Sachs, which owns a big stake in the Yankees' television network, YES, negotiated the deal.

Keeping A-Rod in pinstripes seemed  impossible just days ago. According to the Journal, A-Rod's neighbor in Miami, Goldman executive John Mallory brought in Cardinale. "This is a work in progress," a Yankees spokesman said. "We're still in dialogue and we're trying to work things through."