Report: Boras looking to rework Cano’s contractBy
According to George King of the New York Post, Scott Boras has recently tried to get in touch with Brian Cashman about seeing the Yankees drop Cano’s two options for 2012 and 2013 (worth $14M and $15M, respectively) and work out a new contract at market value. For their part, the Yankees have indicated that they’re very, very unlikely to rework their deal. Boras likely knew this would happen, which is why it’s just a little bit odd to see him publicly request it anyway. It’s also why, perversely, a deal might be possible.
On one hand it isn’t odd. As Mike noted earlier this morning, Boras only gets paid vis-à-vis his relationship with Cano when Cano signs a new contract. On the other hand, Boras knows that the Yankees have little incentive to pay Cano more now and that Cano has little leverage to force them to do so. A market value contract for Robbie is likely a non-starter for the Yankees. While $29M over two years isn’t exactly a Longoria-esque bargain, the organization simply has no incentive to replace his current salary with a much higher salary right this instant. Cano’s salary demand won’t likely be any higher a year from now than it is right now, even if he has another monster year in 2012.
As such, Boras could simply be saber-rattling and letting the Yankees know he expects a big payday for Cano any time between now and two years from now. Boras also could be hoping that the Yankees would be silly enough to tear up Cano’s current deal and pay him at market value. After all, it doesn’t hurt to ask. Alternatively, he could be amenable to working out something in the middle, slightly below market value rate, right now. This would certainly represent a departure from Team Boras’ modus operandi. Boras has typically been known for pursuing a very aggressive year-to-year strategy with clients under contract and then pushing them to the biggest payday possible in the unrestricted free agent market. Look no further than Prince Fielder for an example. This could simply be posturing for a new deal two years from now, but if it isn’t and his demand for a new deal represents a negotiating strategy designed to get Cano a new deal this offseason, it would be advantageous to see the Yankees pursue a deal.
Meeting Boras halfway and working out a long-term extension solves a lot of problems at once. It provides Cano the long-term stability and big-time payday he’s looking for, and gives Boras his new contract commission, not that the latter is anyone’s concern. From the Yankees’ perspective, it allows them to lock Robbie up through his prime and into his mid-30s at a slightly below market rate. A reasonable guess as to a new extension for Cano might be replacing his 2012 and 2013 options with a six-year, $100M deal. This would pay Cano $16.67M per year through the 2017 season. Mike threw around the idea of a six-year, $120M deal back in August, an average of $20M per season.
If the Yankees have designs of keeping Cano around for the next half-decade, it would make sense to pursue this sort of deal now. It’s better to own Cano from 2012 through 2017 at $16 million per year than it is to own Cano from 2012 and 2013 at $14 and $15 million per year, respectively, and then from 2014 through 2019 at $20 million per year, assuming he can get that on the unrestricted free agent market. Not only do they Yankees get a slight discount on the salary, but they also avoid paying him into his late-30s. It hardly even needs to be said that it’s dangerous to guarantee double-digit salaries to players throughout the inevitable decline that occurs as they enter their late thirties. If the Yankees can avoid that with Cano by paying him now and figuring out what happens after 2017 later, then they’re in a better and more flexible position than they would be if they signed him to the same deal two years later.
There’s risk, of course. Cano could regress back to the player we saw in his 2008 campaign and prove to be a poor value for the money, but it’s hard to find anyone who expects that to happen. Cano is among the very best players in the game, and he’s easily one of the best players on the Yankees. Working out a deal now might be best for all parties. Something tells me it won’t happen, though. Boras is good at getting his clients the very best of paydays, and he may advise Cano to sit tight and wait until the terminus of the 2013 season if the Yankees aren’t interested in paying market value right now. They shouldn’t, of course, and they won’t. Brian Cashman wasn’t born yesterday.