MLB and the MLB Players Association jointly released the following statement on Friday:
"As part of this resolution, Mr. Rodriguez and the Yankees have agreed that a total of $3.5 million in charitable contributions will be made by the club, with $1 million going to the following charities that have long enjoyed the support of one or both: the Special Operations Warrior Foundation, the Boys & Girls Club of Tampa, and Pitch In For Baseball; and $2.5 million going to the MLB Urban Youth Foundation, which will use the money to further programs and initiatives aimed at increasing youth participation in baseball, particularly in urban areas. Commissioner Robert D. Manfred, Jr. will determine the initiatives to be supported by the $2.5 million contribution after consulting with Mr. Rodriguez, and taking into consideration the focus of Mr. Rodriguez's past charitable contributions.
"Neither party will have any further comment on the specific terms of the agreement and both look forward to focusing their energies on winning another championship for Yankees fans."
Rodriguez hit career home run No. 661 on May 7, passing Willie Mays for fourth place all-time, and he recorded his 3,000th hit on June 19. It was unclear as to whether the settlement covers those milestones or also any potential future ones.
Cash Kruth is a reporter for MLB.com. Follow him on Twitter at @cashkruth. This story was not subject to the approval of Major League Baseball or its clubs.