The Yankees expect that if Cano, who has averaged 29 homers and 101 RBI over his past four seasons, becomes a free agent, he will receive significant offers from several other teams, including the Los Angeles Dodgers and the Washington Nationals.
Cano's payoff is likely to be in line with the deals recently signed by Albert Pujols ($240 million for 10 years), Joey Votto ($225 million for 10 years) and Felix Hernandez, who recently signed a seven-year, $175 million contract extension with the Seattle Mariners to become the highest-paid pitcher in baseball history.