On Friday, the trade of Alfonso Soriano, Chicago Cubs' outfielder, to New York Yankees was finally settled. Soriano formally waived the no-trade clause which accounted for the trade's completion.
People with knowledge of the matter told ESPN that Cubs owe Soriano around US$24.5 million through the next season's end. Chicago Cubs would pay about US$17.7 million while Yankees would cover the outstanding US$6.8 million. Alfonso Soriano was schedule to generate U$18 million next season. US$5 million of the total amount that he would earn will come from the Yankees. The Yankees wanted more power for its team hence, it became willing to trade for Soriano. In 2006, Soriano signed an eight-year deal with Cub for US$136 million. The contract went to Cubs' record for highest deals.
The New York Yankees is a US$1.7 billion worth baseball team. Its main corporate sponsors were PepsiCo, Canon, Delta Air Line, MasterCard, Bank of America and W.B. Mason. In 2010, it earned US$325 million from ticket for the regular season and luxury suites. Yankees' 34%-owned regional sports channel, YES Network, generated about U$400 million last year. Its investment on Legends Hospital Management earned US$25 million. According to Forbes, the total enterprise worth of YES, Legends and Yankees is US$5.1 billion.
Join the Conversation