Charles Star suggests that despite perception Scott Boras was left on the outside looking in during Alex Rodriguez’ recent negotiations with the New York Yankees, the mega-agent is no sap.
Buried in a story about how Goldman Sachs avoided getting burned in the mortgage crisis was this paragraph:
Meanwhile, two Goldman managing directors acted as liaisons, helping bring Alex Rodriguez back to the New York Yankees baseball team, a classic Goldman deal that enhances the value of the firm™s 40 percent stake in the YES network – which it is trying to sell – while also pleasing Yankee fans. The symmetry was perfect: like the Yankees, Goldman, more than any other bank on Wall Street, is both hated and revered.
So now you tell me: did A-Rod approach people at Goldman Sachs on the advice of Warren Buffet? Or is it more likely that Goldman Sachs approached him, with an assist from Warren Buffet? Or asked A-Rod to give Warren Buffet a call.
I have a feeling that ARod may be making $30MM a year after all, with a little help from friends that aren™t the Yankees. Scott Boras is no dummy. He knows how important the sale of YES is to more than just the Yankees.
Star makes a salient point, one especially helpful to me, having presumed YES’ market value hinged more on the quality of Michael Kay’s “CenterStage” than actual Yankee wins and losses.