Breaking: Egan Foote Opts Out of Contract with New York Yankees
Hot on the heels (or should we say Foote) of Alex Rodriguez’ announcement that he would opt out of his contract with the New York Yankees, Egan Foote released a statement through his agent Scott Boras announcing that he too would opt out of his contract with the Yankees. Often overlooked for his athletic prowess, Egan Foote does have some notoriety in the world of sports. However, very few people know that Egan Foote is currently in the thirteenth year of a 25 year contract with New York. While serving as an extra in the movie Angels in the Outfield, Mr. Foote was throwing the ball around with castmate Danny Glover; what he didn’t know was that now Yankee General Manager Brian Cashman was in the crowd. “Sweetest arm I’d ever seen,” said Cashman back in 1994 when announcing that the team had signed Foote. “A more fitting name would be Egan Arm. Hey-yo!”
Cashman quickly encouraged George Steinbrenner to sign the insurance processor to a long term deal. “I knew we had to lock him up” said Cashman. And lock him up they did. The Yankees signed Foote to a 25 year, $70 million dollar deal, a record at the time it was signed. The deal allows Mr. Foote to opt out of his contract after the thirteenth year.
And that’s exactly what he plans to do. In a press conference earlier today, Boras released the following statement: “Mr. Foote has decided to opt out of his contract with the Yankees. This deal was signed in 1994 according to 1994 economics. Mr. Foote wants to be compensated for his services based on 2007 numbers. Boras, out.”
“I am very excited to test the free agent waters,” said Foote. “It’s something I have not done since 1994 when I accepted an offer with the Yankees that was too good to refuse. After consultation with my family and friends, I have decided to opt, out!”
There has been little speculation as to what impact this decision may have, mainly due to the fact that very few people knew Egan Foote was under contract with the Yankees, much less played baseball. “The commissioner’s office was unaware of Mr. Foote’s contract with the team,” said MLB Commission Bud Selig. “We are recalculating the Yankees revenue sharing and luxury tax obligations and will be sending the team an invoice very shortly.”
We will continue to update this story as more information becomes available…