December 19, 2013 /24-7PressRelease/
-- Baseball second baseman Robinson Cano has accepted a 10-year $240 million contract with the Seattle Mariners. It is the third-largest contract
in baseball history.
Sources reported that the New York Yankees wanted to offer Cano much less than $200 million; however, the professional baseball player was desperate to ignite a bidding competition amongst other teams. As a result, the player and his agents arranged a meeting with the New York Mets.
Shortly after, the Mariners got into game. Forbes.com suggests that the team's original offer ranged from $200 to $225 million for eight or nine years. After serious negotiations, Cano will now be a Mariner.
The second baseman's new deal is certainly a financial win. The contract outperforms the Yankees' official offer by an estimated $65 million. However, the trade will also probably affect the player's professional baseball legacy. Sources note that the Mariners likely will not bring forward enough overall team talent to be competitive as a whole any time soon. On the other hand, the Yankees have rehabbed their lineup and look to serve as strong contenders in the upcoming season.
The contract also means that Shawn 'Jay-Z' Carter, one of Cano's agents, gets to recover from an earlier aggressive offer. The recording artist was reportedly seeking a decade-long contract at $310 million. Despite reportedly being called out on his unrealistic bluff, Jay-Z and Cano's other agents ultimately secured a hefty deal with the Mariners.
Jay-Z is known by other agents and agencies for linking clients with big corporate brands. In other words, he is good at supplementing players' income with powerful endorsement deals. However, such endorsements
appear less likely for Cano, as he is now leaving the hustle and bustle of New York, the largest U.S. media market.
Some wonder whether the player could have secured the $65 million differential amount in endorsement money had he remained in The Big Apple. But others more knowledgeable in what's possible in the endorsements marketplace for professional athletes do not speculate this to be true. Nevertheless, the player's Hall of Fame credentials will also likely take a beating in leaving the Yankees, perennial championship contenders. On the other hand, the star second baseman has managed to reap the benefits of the third-largest baseball deal in the game's history.
The importance of an entertainment and sports attorney
Professional athletes benefit significantly from legal assistance when dealing with sports contract negotiations. Every player has unique needs in terms of his or her professional career. Player contract negotiations can contemplate a variety of legal issues, including the world of corporate endorsements and personal branding, which ultimately affect the success and brand of a professional ballplayer. If you are engaging in legal discussions concerning your professional sports career, you should have a strong entertainment and sports attorney, knowledgeable in structuring and negotiating endorsement provisions in player contracts, by your side.
Article provided by Brian J. Murphy
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