Nov. 25 (Bloomberg) -- Alex Rodriguez and the Yankees have agreed to a $30 million marketing deal, the last significant hurdle in a contract that returns the American League Most Valuable Player to New York, the New York Times reported on its Web site.

Rodriguez will make $275 million in salary over the 10-year agreement, the biggest contract in baseball history, the Times said.

He will also share in revenue the Yankees generate by marketing his home run milestones, the Times said, citing a Major League Baseball official it didn't identify. Rodriguez, who has 518 career home runs, will receive $6 million for tying totals of Willie Mays (660), Babe Ruth (714), Henry Aaron (755) and Barry Bonds (762), and another $6 million when he breaks the record, the Times said.

Rodriguez terminated his previous contract with the Yankees last month by opting out of the remaining three years and $81 million. He won his third AL MVP Award after leading the majors with 54 homers, 143 runs scored and 156 runs batted in.

To contact the reporter on this story: Bob Bensch in Trenton, New Jersey at bbensch@bloomberg.net.

Last Updated: November 25, 2007 00:50 EST