The Yankees donated $500,000 in support of rescue and relief efforts following the tragic earthquake in Haiti, the club announced Wednesday.

The earthquake, which measured a 7.0 on the Richter scale, struck on Tuesday, and the International Red Cross says a third of Haiti's 9 million people may need emergency aid. There is still no official death count, but President Rene Preval said he believes the death toll is in the thousands.

"The catastrophic event has devastated an entire nation and will have far-reaching effects in the worldwide Haitian community," the Yankees said in a statement. "The Yankees hope their donation will inspire people throughout the United States to do everything they can to aid the people of Haiti in their time of need."