Report: A-Rod opts out of Yankees deal

NEW YORK, Oct. 29 (UPI) -- Star third baseman Alex Rodriguez has announced his decision to opt out of the remaining three years of his contract with the New York Yankees.

"I received a message from (agent) Scott Boras last night informing me that Alex Rodriguez formally opted out of the final three seasons of his contract," Yankees GM Brian Cashman said Monday. "We always understood that it was his contractual right to do so."

"I don't want anybody on my team that doesn't want to be a Yankee," Yankees partner Hank Steinbrenner told the Daily News Sunday night.

The Texas Rangers, who signed Rodriguez to a 10-year, $252 million contract before the 2001 season, were still responsible for about $21 million over the final three years. By opting out of the deal, Rodriguez will lose about $72 million of guaranteed money in the contract.

This past season, Rodriguez hit 54 homers, drove in 156 runs and batted .314.