Now here’s a high-upside move if I’ve ever seen one:
For Mr. Rodriguez, the move marks the latest turn in his relationship with Scott Boras, one of baseball’s most successful and controversial agents. It was Mr. Boras’s decision to announce during last year’s World Series that Mr. Rodriguez would opt out of his contract with the Yankees. That move dented the future Hall of Famer’s reputation and forced him to pursue a new deal directly with Yankees brass.
Mr. Boras, who has represented Mr. Rodriguez throughout his career, said he will continue to represent the slugger in any baseball-related negotiations. “I do Alex’s baseball work,” Mr. Boras said Monday.
Now, with what is likely the final contract of his sports career complete, Mr. Rodriguez is turning to William Morris to burnish his image as an athlete with appeal beyond his sport.
As much as I’ve been called a Boras apologist, he and A-Rod have left a lot of money on the table in terms of endorsements, largely because A-Rod hasn’t been very salable. Darren Rovell estimates that he is pulling in less than $2 million annually off the field, falling below at least forty other American athletes.
Maybe William Morris can change that. Granted, it’s a very tough job right now. Opting out during the World Series didn’t go over so well, and he’s been tabloid fodder more than once. But an even bigger issue is that he remains the second most popular player on his own team, and a lot of people consider Jeter the more accomplished player (especially in the media). Fair or not, Jeter has built a much better brand for himself, and that has translated to greater off-field earning potential.
One interesting aspect of the WSJ article is that William Morris may focus on long-term investments for A-Rod (a la Magic Johnson) instead of short-term earnings maximization (a la Tiger Woods). That’s a pretty reasonable goal, and corporate equity generally goes farther than a regular paycheck can.
But it will still be important to get A-Rod in the right light publicly, especially as he approaches Barry Bonds over the next several years. Needless to say, there will be an incredible amount of money at stake, and A-Rod’s image could be a huge determinant in how much he actually makes.
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