Joel Sherman of the New York Post echoes that report, adding that the Yankees offered it with no deferrals. After that offer was rejected, the Yankees offered seven years in the $23-24MM range and were also rejected. Sherman has Cano's request at $310MM, stating that Cano wants to beat A-Rod's deal as opposed to match its potential total (Twitter links).
9:18am: With the Yankees officially eliminated from playoff contention, much of the focus on the team will shift to Robinson Cano's impending free agency, and it could be more expensive than any had imagined. According to ESPN's Buster Olney (ESPN Insider required), Cano is seeking a ten-year contract worth $305MM — the total value of Alex Rodriguez's deal with the Yankees if he hits all of his incentives — as he heads into free agency.
A contract of that magnitude would be the largest commitment in Major League history, but Cano's track record of elite production gives him the ability to seek something historical. Over the past five seasons, Cano is batting .314/.369/.531, averaging 160 games and 28 homers per season. A solid defender at second base, Cano has been worth an average of 6.4 WAR (per Fangraphs) or 7.5 WAR (per Baseball-Reference) over the past four seasons, depending on which version of the metric you prefer.
Cano's request clearly clashes with the Yankees' desire to keep their payroll under the $189MM luxury tax threshold, but it's not clear if any team could afford to sign him to such a lucrative deal. The Dodgers would seem the likeliest candidates, but recent reports have indicated that they're not likely to pursue Cano or any other major free agents this offseason.
Earlier this year, Cano left the Boras Corporation in favor of Jay-Z's start-up agency, Roc Nation Sports, which is currently partnering with CAA Sports. CAA's Brodie Van Wagenen is said to be heading up any contract negotiations for Cano, though Jay-Z was recently certified by the MLBPA as a player representative himself.