Sign with big Hollywood agency; hit a home runBy
Maybe a few more Yankees should think about signing with hot-shot talent agencies. A few hours after word got out that A-Rod had inked a deal with the powerful William Morris Agency, the Yanks’ third baseman kicked off a 12-run rout of the Twins with a two-run home run in the first.
Word of the deal first broke in the Wall Street Journal last night. Matthew Futterman’s article, available here only for WSJ subscribers, talks about A-Rod’s decision to sign up yet another management company:
The decision reflects the growing importance of Hollywood in athletes’ attempts to turn themselves into enduring brand names that can attract corporate sponsorships in addition to their big-ticket employment contracts. Major agencies, meanwhile, see star athletes as a growth niche. As TV ratings dwindle and movie box-office stagnates, sports-rights fees and the value of sports teams are growing. The marketing prowess of golfer Tiger Woods has become the envy of celebrity handlers…
For Mr. Rodriguez, the move marks the latest turn in his relationship with Scott Boras, one of baseball’s most successful and controversial agents. It was Mr. Boras’s decision to announce during last year’s World Series that Mr. Rodriguez would opt out of his contract with the Yankees. That move dented the future Hall of Famer’s reputation and forced him to pursue a new deal directly with Yankees brass.
Mr. Boras, who has represented Mr. Rodriguez throughout his career, said he will continue to represent the slugger in any baseball-related negotiations. “I do Alex’s baseball work,” Mr. Boras said Monday. Now, with what is likely the final contract of his sports career complete, Mr. Rodriguez is turning to William Morris to burnish his image as an athlete with appeal beyond his sport.
Right now, while A-Rod is one of the highest paid players in any sport with a guaranteed contract of at least $275 million over the next ten years, he lags in endorsement deals. According to Bloomberg News, A-Rod earns just $6 million a year in endorsements, putting him 20th on a recent Sports Illustrated list of top-grossing athletes by endorsements.
The agency, with offices in New York, LA, Nashville and London, will look to expand the reach of the A-Rod image, and the Yanks’ slugger, destined for the Hall one day, will also see his earnings reach new heights. It’s just another day in As The A-Rod Turns.