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Alex Rodriguez announces retirement

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New York is moving on.

MLB: New York Yankees at Tampa Bay Rays Kim Klement-USA TODAY Sports

New York will release Alex Rodriguez on Friday and subsequently sign him to a new deal as an advisor that will keep him under contract through 2017, the Yankees announced at a press confererence Sunday morning.

Rodriguez, 41, has become one of the faces of the Yankees franchise, which since the non-waiver trade deadline has been rebuilidng. New York added several prospects in exchange for veteran pieces this week.

Rodriguez is having a down year offensively, batting .204/.252/.356 with nine home runs and 29 RBIs over 62 games. However, he is a career .295 hitter who has been a part of 22 major league seasons.

In 2007, the Yankees signed Rodriguez to a 10-year deal worth about $275 million. He is still owed $26.5 million from that deal.

Entering play Sunday, Rodriguez has collected 696 career home runs, which ranks sixth overall. His 3,114 hits rank 19th overall, and he’s hit a record 25 grand slams.