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Yanks, A-Rod agree to "outline" of 10-year, $275 contract

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Breaking news. Links to come.

[editor's note, by Randy Booth] ESPN has some info:

Alex Rodriguez and the New York Yankees have agreed to the outline of a $275 million, 10-year contract, a deal that potentially would allow him to earn millions more if he sets the career home run record. The amount of the guaranteed money was revealed by a person familiar with the negotiations who spoke Thursday on condition of anonymity because the deal hasn't been finalized. A-Rod met Wednesday in Tampa, Fla., with the Steinbrenner brothers but the parameters of the deal were set in place last weekend.
Hmm. $350 million to start talks, huh Boras? I guess you can't live up to your demands. So basically this means that the $275 is the cieling this off-season.