The following is Mark McGwire's statement announcing his retirement from baseball:

"Last January, Mr. (William) DeWitt (the team owner) and I verbally agreed on a generous two-year contract extension from the Cardinal organization.

"After considerable discussion with those closest to me, I have decided not to sign the extension, as I am unable to perform at a level equal to the salary the organization would be paying me. I believe I owe it to the Cardinals and the fans of St. Louis to step aside, so a talented free agent can be brought in as the final piece of what I expect can be a World Championship-caliber team.

"So I am walking away from the game that has provided me opportunities, experiences, memories and friendships to fill ten lifetimes.

"For years I have said my motivation for playing wasn't for fame and fortune, but rather the love of competing. Baseball is a team sport and I have been lucky enough to contribute to the success of some great teams.

"I want to thank the St. Louis Cardinal organization, Mr. DeWitt, Mr. (Walt) Jocketty, Tony La Russa and the thousands of Cardinal faithful for making St. Louis home for the past four years. I want to thank the Oakland A's and all of the fans in California for giving me my start, and the millions of baseball fans around the world who have inspired me to compete night in and night out."