Well it turns out that might not be the case. Here is more on it from Jayson Stark of ESPN:
For one thing, the new deal doesn’t kick in until 2015, when Lee would be in the fifth season of his next contract.
For another, Rumblings was told, the new Rangers ownership has already used a large chunk of the upcoming TV money, which it collected up front as a signing bonus, to help finance its purchase of the franchise.
And, finally, the Rangers are about to lose their status as a revenue-sharing taker, which was allowing them to collect $8 million to $15 million a year.
This is great news if you are Yankee fan hoping that they will sign Lee (aren’t we all?). It means that the Rangers will certainly have a finite amount of money to spend on him. They will have to be careful that they don’t spend too much and remove any future financial flexibility like they did when they signed Alex Rodriguez.
This is perhaps why the Yankees are not going all out to sign Lee the way they did with CC Sabathia. Maybe they knew this information and realize that they don’t have to go nuts. They can just sit back and see what the Rangers offer him and then just outbid that at the last minute.