NY Times Reports Tragedy: 21-Year-Old May Have to Work for Only $6 Million

The New York Times wants to be able to tell a feel-good story about a local kid, Pedro Alvarez, who grew up in poverty, worked hard and is going to get to live out his dream. Alas, contract law is getting in the way, according to his report. There is no dispute that Alvarez agreed to sign with the Pittsburgh Pirates in a deal that included a $6 million signing bonus. So, what is standing between this young man and his dream?

As near as I can tell from the report, the young man and his agent, Scott Boras, are. They are claiming that the agreement was consummated after a deadline had expired and therefore is unenforceable. Why? Apparently because Boras thinks Alvarez is entitled to more money! He is the #2 pick, and the #5 pick got a $6.2 million bonus. Alvarez refused to sign up with the Pirates, and the parties are now before an arbitrator. The Times quotes one of Alvarez’s former coaches claiming that baseball is trying to take advantage of Alvarez because he is a “lower socioeconomic kid.” However, the coach also maintains that Alvarez is “represented by the best agent in the history of baseball.” In light of Alvarez’s socioeconomic background, I am sure that Scott Boras is taking on this representation pro bono.

ESPN provides a fuller report here.

[Jeremy Telman]