Cano extension talks: Nothing current, sides will continue to talk

The Yankees and Robinson Cano will talk about a contract extension for him this offseason, but because he is rumored to be expecting something in the 10-year, $200+ million range there isn’t a lot of optimism a deal will get done.

Chad Jennings of the Journal News met up with Cano’s agent, Scott Boras, yesterday at the GM Meetings and the super agent confirmed that they have talked, but didn’t make it sound like anything might happen soon.

“He’s there for another year,” Boras told Jennings. “I talked to Randy (Levine) a few times this week. I talked to Cash. These are things that, I’m sure as time goes forward, we’ll continue to talk about. But nothing current.”

The Yankees seem less motivated to work out a deal quickly after a postseason where Cano disappeared at the plate and failed to run out grounders or dive for close plays as they were swept by the Tigers. The new thinking is that they will give it another year and possibly take a hardline stance with him in negotiations if David Adams or Corban Joseph are ready to take over at the major league level.

The one wild card, of course, is Randy Levine. If he’s involved anything can happen. He’s the one who went against Brian Cashman’s wishes and signed Rafael Soriano and it was him, along with Hank Steinbrenner, who handed out Alex Rodriguez‘s atrocious current 10-year deal. If Boras has a chance to get big money for Cano out of the Yankees this offseason it will likely be through him.

If the Yankees signed Cano to an extension this year they would get some benefit toward the luxury tax. For tax purposes the average annual value of a contract is counted. If they signed him this offseason his $15 million contract for 2013 would count toward, and bring down, the average annual value of the deal which would afford the Yankees some leeway come tax day. It seems that they may be willing to risk that benefit and wait until next year if negotiations don’t go their way though.

Like Boras said, nothing is imminent. If something does happen it probably wouldn’t be until around Christmas time at the earliest. That way the Yankees could iron out some of the other details first, like look for a right field replacement for Nick Swisher and re-sign Mariano Rivera, Andy Pettitte and Hiroki Kuroda too.

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