Warren Buffett structured Rodriguez's $30M Yankees milestone home run bonus deal
Alex Rodriguez · Alex Rodriguez – Business after Baseball (Capital Allocators, EP.198) · Jun 7, 2021 · at 13:14
Alex Rodriguez describes how a phone call to Warren Buffett solved a $30 million contract negotiation impasse with the Steinbrenners and the New York Yankees.
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“So he says, okay, there's five big records out there, homerun records. Willie Mays, and he goes one by one. Hank Aaron, Barry Bonds, Babe Ruth. So if you hit all those five, And you get a six million dollar bonus in each one of them. They will be happy. I said, okay, great. I love that. Why will they be happy? He says, because essentially they should be making sixty million and paying you six. I go, right. That's perfect. So sure enough, I call and I get on the phone and say, I got a great idea... I bought for the record, starting with Willie Mays at six 60 all the way through Babe Ruth and Barry Bonds. If I hit each one of them, you pay me six million dollars a piece. If I had none, you pay me none. If I had three, you pay me for three. They go, I love that. I'll call you back. So they went to that. They thought about it. They were in Tampa and they called me back 30 minutes later and said, we got a deal.”
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