Nov. 20 (Bloomberg) -- Alex Rodriguez won his third American League Most Valuable Player award yesterday as he closes in on another record contract with the New York Yankees.

Rodriguez, who led Major League Baseball with 54 home runs and 156 runs batted in, received 26 of the 28 first-place votes from a nationwide panel of baseball writers. Magglio Ordonez of the Detroit Tigers was the runner up with two first-place votes.

The 32-year-old Rodriguez and the New York Yankees have agreed to the outline of a 10-year, $275 million contract, the Associated Press said last week. Rodriguez initiated talks with the Yankees on advice from billionaire investor Warren Buffett.

``It's been a pleasure to wear that uniform,'' Rodriguez said yesterday on a conference call with reporters. ``It's been a magical season and a year I will never forget.''

The National League MVP will be announced today. Colorado outfielder Matt Holliday, whose .341 batting average and 137 RBI led the league, and Philadelphia's Jimmy Rollins are the favorites. Rollins hit .296 with 30 homers, 94 RBI and 41 steals while winning a Gold Glove for his play at shortstop. Other contenders include Milwaukee first baseman Prince Fielder, Phillies second baseman Chase Utley and Mets third baseman David Wright, who could give New York its first MVP sweep since Don Newcombe and Mickey Mantle won the 1956 awards.

Rodriguez said yesterday he would trade all three of his MVP awards for the championship that's eluded him during his 14- year major-league career.

``There's definitely a huge hole in the resume,'' Rodriguez said.

Relationship With Buffett

Last week, Rodriguez and the Yankees said the player had personally approached team officials and told them he wanted to return. Rodriguez received advice to make the move himself from Buffett, with whom the player said he has a ``wonderful relationship.''

``We usually visit every year and Warren is a friend and maybe he saw the passion in my eyes and how hard I was conditioned,'' Rodriguez said. ``But he's done a great job of foreseeing things in business so now he is doing it in baseball too, so that is good.''

Rodriguez, whose nickname is A-Rod, is the ninth player to win at least three MVP awards, with all the others except still- active seven-time winner Barry Bonds in the Hall of Fame. Rodriguez was named the MVP in 2003 with the Texas Rangers and in 2005 with New York.

Last season, Rodriguez also led baseball with 143 runs and a .645 slugging percentage, while batting .314. His 14 home runs in April tied a record, and in August he became the youngest player to reach 500 career homers.

Ruth, Williams and Mantle

He also joined Hall of Fame members Babe Ruth, Ted Williams and Mickey Mantle as the only players since 1920 to lead the majors in homers, RBI and runs scored in one season.

Yesterday's award for Rodriguez marked the 20th time a Yankee has won the MVP, the most for one team. The St. Louis Cardinals are second with 15 MVP awards.

Texas signed Rodriguez to a record 10-year, $252 million contract in 2000 and traded him to New York in 2004 after finishing in last place three straight seasons.

The Yankees never got a chance to submit a financial proposal to keep Rodriguez before agent Scott Boras, during Game 4 of the World Series on Oct. 28, announced Rodriguez's decision to opt out of the remaining three years on his contract. He was scheduled to make $27 million in each of the next three seasons.

The Boston Red Sox, Mets and Los Angeles Angels met with Boras and the Yankees said they wouldn't negotiate with the 11- time All-Star after he voided his deal.

The Baseball Writers Association of America polled its members before the end of the regular season.

Ordonez led baseball with a .363 batting average and was second to Rodriguez with 139 RBI.

The Yankees made the playoffs as the AL wild-card team, with the best record among second-place finishers, while the Tigers missed the postseason.

To contact the reporter on this story: Danielle Sessa in New York at dsessa@bloomberg.net

Last Updated: November 20, 2007 00:05 EST