Rodriguez, who has played the last four seasons with the Yankees, and the New York club cut their ties last month when he exercised an escape clause in his 10-year, $252 million contract.

The Yankees had said they would not negotiate with him as a free agent, instead wanting to offer an extension that would enable them to receive the $30 million the Texas Rangers were to contribute under terms of their trade before the 2004 season.

Rodriguez, however, never sat down with the Yanks and declared his free agency.

Sources said Rodriguez's agent Scott Boras had told the club it would have to offer $350 million to stop him becoming a free agent. The Yankees' offer may approach $290 million, according to reports.

"After spending time with (wife) Cynthia and my family over these last few weeks, it became clear to me that I needed to make an attempt to engage the Yankees regarding my future with the organization," Rodriguez said in his statement.

"Prior to entering into serious negotiations with other clubs, I wanted the opportunity to share my thoughts directly with Yankees' ownership. We know there are other opportunities for us, but Cynthia and I have a foundation with the club that has brought us comfort, stability and happiness.

"As a result, I reached out to the Yankees through mutual friends and conveyed that message. I also understand that I had to respond to certain Yankees concerns, and I was receptive and understanding of that situation.

"Cynthia and I have since spoken directly with the Steinbrenner family. During these healthy discussions, both sides were able to share honest feelings and hopes with one another, and we expect to continue this dialogue with the Yankees over the next few days."

Rodriguez, an 11-times All-Star, led the major leagues with 54 home runs, 156 runs batted-in and 143 runs scored in 2007 and is favorite to be named the American League's Most Valuable Player.

(Writing by Larry Fine, Editing by Ed Osmond)