A-Rod Bids Tearful Goodbye to Playing Baseball

He will continue with the Yankees as an adviser and instructor.

"This is a tough day. I love this game and I love this team. And today I'm saying goodbye to both," Rodriguez said before shedding tears. He went on to thank his family.

"Thank you for your support. You've been through so much with me," he said.

The 41-year-old designated hitter, formerly a third baseman and Gold Glove-winning shortstop, has had a storied 22-year career on the baseball diamond and is widely regarded as one of baseball's greatest players.

Rodriguez signed a $252 million, 10-year contract with Texas before the 2001 season, the largest agreement in baseball history, and then opted out of that to sign on with the Yankees for whom he won MVP in 2007, becoming a free agent. He then signed a $275 million deal with the Yankees.

This year, Rodriguez' numbers have declined. He's hit nine home runs in 216 at-bats, but has an on-base percentage of .252, well below his career mark of .380. He has struck out 27.8 percent of his times at bat, according to Fangraphs.com. In contrast, during his 2007 MVP season with the Yankees, he posted a strikeout rate of 16.9 percent.

Rodriguez's new role will be to mentor and teach those younger players.