The Yankees have had a relatively quiet offseason when it comes to trades and signings. Despite getting Kevin Youkilis, the marquee players have not been flocking to New York. The team's thrifty offseason mindset did help them save money in order to get under the luxury tax threshold for next season and free up room to sign players to longer contracts. Recently, owner Hal Steinbrenner hinted that the team is close to signing a long-term contract extension with second baseman Robinson Cano.
"We indicated to him on a very preliminary basis that we were willing to consider a significant long-term contract," Steinbrenner said.
Preliminary talks with Cano began before spring training camps opened but have not picked up again since. No timeline has been set for giving Cano the extension, but his agent, Scott Boras, responded to the comments by saying he would be willing to sit down with the Yankees and look at contracts.
30-year old Cano is finishing up a six-year, $57 million contract and could receive a huge pay increase on the open market. He will earn $15 million this season before entering free agency. If the Yankees have any chance at keeping Cano on the team, they will have to give him a serious contract. Steinbrenner has cut the team's payroll to $189 million next season, which could hurt their chances.
"I'm looking at $189 million as a goal. But my goals are normally considered a requirement. Plenty of teams win without the kind of payrolls we have," Steinbrenner said.
The Yankees are already locked into paying $86.5 million to five players in 2014. Derek Jeter could exercise a player option in 2014 and negotiate a larger contract if he has a good season. New York avoided signing any multiyear contracts in 2013 in an effort to save money. They will be expected to pay up to certain players this coming year.
Cano is a four-time All-Star. Over the past four seasons he averaged 299 home runs and 101 RBI. In 2012, he batted .313 with 33 home runs and 94 RBI. He is considered one of the best defensive second basemen in the league. If the Yankees are not able to resign Cano and let him hit the open market, plenty of teams will come calling. The Los Angeles Dodgers and Washington Nationals have both increased their payrolls and might be able to afford taking on Cano.
