His old deal consisted of the following:
2008 - 2010:
$30 million from Texas
$60 million from New York
2011 - 2015:
Articles indicate the Yankees were prepared to offer $150 million, or $30 million per year for these five years.
Total cost to Yankees: $210 million; $26.5 average per year for 8 years
Total cost to Rangers: $30 million
Total cash to Arod: $240 million or $30 million average per year over 8 years
Arod opts out, and the Yankees insist they are through with him. They then sign him to a new deal for $275 million over 10 years, or $27.5 million per year for 10 years.
Total cost to

Yankees: $275 million; $27.5 average per year for 10 years
Total cost to Rangers: $9 million (deferred money owed to arod over next 3 years) Total cash to Arod: $284 million or $28.4 million per year over 10 years
I have ignored the marketing bonuses since I figure Arod could have gotten them from the Yanks had he come to the table before opting out and thus assume they would be a wash.
So Arod gets an extra $44 million out of his new deal. Yes, he is locked up for two additional years, but he will be 41 and 42 at that point. Not exactly his prime.
The Yankees, on the other hand, are paying out $65 million more under this deal than the old/proposed one. Yes, they get his services for two additional years, but overall all Arod is costing them more per year under the new deal ($27.5) than the old/proposed deal ($26.5). Any spin on this as Arod groveling and begging to come back is complete and utter BS. Arod's opting out cost the Yankees tens of millions of dollars.