Divorced

Yankees Star Alex Rodriguez Settles Divorce

09/18/2008 at 08:45 PM EDT

Yankees slugger Alex Rodriguez and wife Cynthia settled their bitter divorce fight, PEOPLE confirms.

Terms of the settlement were not released.

"Cynthia and Alex Rodriguez have amicably resolved their dissolution of marriage proceedings," lawyers for the former couple say in a statement. "They deliberately engaged in a private negotiation. During the negotiations and resolution all decisions were made with the best interests of their children as the paramount concern."

Cynthia, 35, filed for divorce in July, saying her estranged husband – known to fans as A-Rod – "emotionally abandoned" her and their children and had a series of affairs. Her lawyer also said Rodriguez, 33, had an "affair of the heart" with Madonna that was the "last straw."

In Cynthia's filing, she asked to keep their $12 million Coral Gables, Fla., mansion. The mother of his two children, Natasha, 3, and Ella, five months, also wanted a cut of his earnings during their marriage. Rodriguez reportedly made $28 million this season.

But, in A-Rod's response, he argued that the divorce settlement should be determined by their prenup, which Cynthia signed a month before their 2002 wedding.

He admitted the marriage was "irretrievably broken," but noted Florida is a no-fault state for divorce cases and chastised Cynthia for mentioning "immaterial and impertinent" issues like his alleged "extra marital affairs and other marital misconduct."

The settlement was first reported by the New York Daily News.

• Reporting by SIOBHAN MORRISSEY

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