Monday, June 30, 2008

Report: Yankees Lose Iona Sweepstakes

Michael Iona to Sign with the A'sAccording to John Manuel of Baseball America, the A's have reached an agreement with 16 year-old Dominican righty Michael Inoa. He'll receive a $4.25MM signing bonus, a record for an international amateur (excluding Cuban defectors). Manuel reports that the Yankees had a tentative deal in place for $2.7MM at one point but agent Adam Katz stepped in and raised the price.
The Yankees initially were the leader for Inoa, reportedly agreeing to terms with Inoa's Dominican buscon on a deal with a $2.7 million bonus. However, multiple sources have indicated that Katz was then brought into the deal and raised the signing bar to a minimum of $3.5 million. The Yankees reportedly dropped out at that point in principle over having had a deal struck and then taken away.

1 comment:

Anonymous said...

Bummer.

Who would have thought the A's would outbid the Yankees on a free agent?

(No doubt made possible thanks to Steinbrenner's revenue-sharing cash)