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Thursday, March 27, 2014

Boras Corp. Loses Grievance Claim Against Beltran

Hope Scott has socked some pocket change away for such hard times.

The Boras Corporation—the powerful agency led by Scott Boras—has lost a grievance action that it brought against recent Yankees signee Carlos Beltran, report Bob Nightengale and Jorge L. Ortiz of USA Today. Boras had sought $1.3MM in damages from Beltran for leaving his agency in October of 2011, prior to inking a two-year, $26MM contract with the Cardinals.

The ruling by arbitrator Shyam Das held that Boras could not enforce the following provision in his contract with Beltran:

“You understand and agree that we invest substantial resources, time and effort in preparation for free-agent contract negotiations and salary arbitration hearings. Therefore, you agree that if you terminate our agency authorization during or after a championship season, and before the following championship season you sign a free-agent or arbitration-eligible contract (whether single- or multi-year), you agree to pay us 5% of the entire contract regardless of who negotiates it on your behalf.”

eddieot Posted: March 27, 2014 at 10:25 AM | 45 comment(s)
  Beats: austin jackson, carlos beltran, robinson cano, scott boras, yankees

 

 

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