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Yankees and the Giambi Problem: As expected, it will not be easy for the Yankees to sever ties with Jason Giambi. As the New York Times reports, the team now believes that it will not be able to void the player's contract. In addition, any attempted buy-out of the player would need not only his approval, but also that of the union:
In a buyout, the Yankees and Giambi would have to determine how much money each would give up to end their relationship. How much would the free-spending Yankees give Giambi to have him drift away? How much would Giambi, who has long been uncomfortable in New York, accept to leave?
Start at the midway point. Would the Yankees give Giambi $41 million? It is an alarming sum of money to pay someone who was unavailable for most of the 2004 season and who violated the team's trust. But the Yankees could easily view it as a way to save $41 million, too, and trudge forward. Especially if they conclude that they do not have a strong enough case to pursue anything legally.
But the players association would certainly object to Giambi's sacrificing half of his contract. The union balked when Alex Rodriguez tried last winter to defer enough money on his contract to save the Boston Red Sox $28 million and allow him to escape from the Texas Rangers. In the end, the union's stance killed the trade to Boston, and Rodriguez instead became a Yankee.
The union's approval of any Giambi buyout would be needed because it would represent a devaluation of an existing contract, as was the case with Rodriguez. And a devaluation cannot occur without the union's approval, regardless of the player's desire.
If there is ever a case for the union to back off and give in to the mutual wishes of a player and a team, this is it. The Yankees are rightfully furious with Giambi -- he consistently lied to the team and its medical staff about his drug use, perhaps exacerbating the medical problems that jeopardize his career. And if Giambi wants to get out of New York, the union should let him. After all, he may (and should) feel bad about taking as much as $41 million for, in effect, doing nothing.
But, as I have said before, the players association does not have a great track record of managing public relations. So, another battle is to be expected.
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