6:32pm: Boras was just joking about a new contract for Cano, the agent tells George A. King III. "Cash [Brian Cashman] and I have talked three or four times in the last three days. My statements were in jest. Cash always returns my phone calls,'' Boras said. "My conversations with Cash about Robinson have nothing to do with the options. We fully expect the options to be exercised."
9:57am: Agent Scott Boras phoned Yankees GM Brian Cashman to discuss the possibility of re-working Robinson Cano’s contract, according to George A. King III of the New York Post. Boras says he’s hoping to remove the 2012 and 2013 options on the second baseman’s deal and work out a new contract.
"I called Cash to ask about dropping the options and he hasn't returned the call," Boras told King.
The four-year, $30MM extension Cano signed under different representation in 2008 includes a $14MM team option for 2012 and a $15MM team option for 2013 ($2MM buyout). The Yankees are sure to pick up Cano’s 2012 option and it would be a surprise if they don’t exercise his 2013 option a year from now.
While there's no harm in asking to re-structure the deal, the Yankees aren't under any obligation to do so. Unless Boras and Cano prepared to make concessions of their own, the Yankees can keep Cano at a relative bargain for the next two years. Ken Rosenthal of FOX Sports hears that it's "highly, highly unlikely" that the Yankees will re-work the deal (Twitter link). Boras successfully re-worked Francisco Rodriguez’s contract with the Brewers this summer.