12:31pm: The Yankees have announced in a press release that A-Rod will undergo "a left hip arthroscopy to repair a torn labrum, bone impingement and the correction of a cyst." The team pegs Rodriguez's recovery time at four to six months.
9:44am: Rodriguez's surgery will be on his left hip, not his previously-repaired right hip, according to Sherman. Recovery time is expected to be three to six months, so A-Rod figures to be healthy enough to return to the lineup by June, says Sherman (Twitter links).
9:02am: Alex Rodriguez's struggles in 2012 may have been partly due to a hip injury, as Joel Sherman of the New York Post reports. According to Sherman, A-Rod was playing with a tear in his hip, which had previously been surgically repaired. The Yankees third baseman will likely need more surgery and figures to miss part of the 2013 season, says Sherman (all Twitter links).
As Sherman notes, with Derek Jeter recovering from surgery as well, the Yankees "desperately" need help on the left side of the infield. Ken Rosenthal of FOX Sports tweets that the team's options include Marco Scutaro and Jeff Keppinger, though Keppinger is also coming off surgery.
According to Mark Feinsand of the New York Daily News (Twitter link), Rodriguez's surgery will take place at some point in January.