Yankees Prop Up Nation's Economy

Undeterred by their failure to even make the playoffs in 2008 despite their league-high team payroll ($207 million) that was one-and-a-half times the combined total of that of the World Series finalists (Phillies-$95M; Rays-$43M), the New York Yankees decided that it would be best to double-down on their failed "strategy" of spending vast quantities of money to sign up the most high profile free agents. Their off-season spending spree continued today with the Yankees signing coveted free agent, Mark Texeira for the bargain-basement price of $180M over 8 years. The account of how the deal was completed contains this illuminating nugget:

Early Tuesday, after midnight New York time, Cashman received a telephone call from Boras stating that Teixeira’s preference was to play for the Yankees, the person said. While the Boston Red Sox had also pursued Teixeira, offering an eight-year deal worth about $170 million, New York is closer to the player’s family in Maryland.

Goes to show that Scott Boras (Texeira's agent) is a negotiating genius. The same dude who was responsible for the quarter-billion dollar Alex Rodriguez contract monstrosity with the Texas Rangers in 2001--a contract offer that by many accounts far exceeded the next best offer--managed to get the Swankees to pay $10M more than the next best offer after telling them that Texeira preferred to play in New York. That's some negotiating; as anyone who's dealt with a used car salesman knows...don't act too interested if you want the best deal. But, in the land of Boras, all nutty things are possible.

With this signing, the Yankees have now committed to shelling out $185M in 2009 to just 16 players on their 40-man roster; proof of their staunch belief in those timeless words:

'Tis better to have paid and lost
Than never to have paid at all.