Warren Buffett insured the final three years of Rodriguez's $252M Rangers contract
Alex Rodriguez · Alex Rodriguez – Business after Baseball (Capital Allocators, EP.198) · Jun 7, 2021 · at 10:26
Former MLB player and investor Alex Rodriguez recounts how Berkshire Hathaway's Warren Buffett helped finalize his record-setting 2001 contract with Texas Rangers owner Tom Hicks.
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“The last three or four years was almost impossible to insure because there wasn't a lot of comps. So we had no problem the first five to seven years, but Tom Hicks was having a hard time with the last three years. I guess he put word out in the market and Warren basically said, I'll take that piece of paper. I'll insure it. If you wire this much money by tomorrow at 11 o'clock in the morning, You got a deal, Tom Hicks.”
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