'However, given the unique circumstances, including the size, length and complexity of Rodriguez's contract and the quality-of the talent moving in both directions, I have decided to approve the transaction.'
Rodriguez could have moved to the New York's bitter rivals, the Boston Red Sox, at the end of last year, but the suggested transfer was ultimately blocked by the Major League Baseball Player's Association.
The union opposed the move because Rodriguez would have had to renegotiate his huge pay deal downwards. The failure of the Red Sox move and the go-ahead for the Yankees has also sparked a row between the two Eastern seaboard cities.
Boston mayor, Thomas M. Menino, said: 'Alex, you may have got away this time,' he said. 'But we will get you when the new season starts this summer.'
Even President George W. Bush had an opinion on the trade. He said: 'I was as surprised as anyone when I read about it. The Yanks will have one heck of a team with him in the infield.'
Rodriguez, who is moving from shortstop to third base, will team up with the Yankees captain, superstar and shortstop Derek Jeter, to provide what commentators are calling the best left-side in-field combination ever.
