Ultimately, if Cano is willing to sign a deal at terms comfortable to the Yankees, they should it now.

Well, no ####.

In what universe does he signed for less than 15M AAV?

That's not issue. If he signs for 9/$225m next winter, that's $25m against the 2014 salary cap (which the Yanks are trying to get under). But sign it today and include the option, and it's 10/$240m, which only counts $24m against next year's cap.

The Yankees probably have less need to sign a player like Cano today than any other team in baseball. No team is going to come in and blow away whatever contract they are willing to offer so the certainty is less important to them than it is to other teams.

Apparently "William Juliano" is a pen name for Jon Heyman.

The only thing forfeited would be the opportunity to save approximately $1 million in AAV.

Why would you take additional risk (he could get hurt, he could have a bad year) for $1M in AAV savings?

The only reason to extend Cano now is if he offers a reasonable deal, say 7/160.

The Dodgers are not yet paying $15m+ annually to a second baseman. It's one of the few positions they can say that about.

This stuff is beginning eerily to resemble the arcana of NBA salary-cap calculations.

The Yankees probably have less need to sign a player like Cano today than any other team in baseball. No team is going to come in and blow away whatever contract they are willing to offer so the certainty is less important to them than it is to other teams.

Says a man who's never met Ned Colleti.

Hal Steinbrenner knows his economic situation and intentions better than anyone, so if this savings isn’t worth the risk that Cano will suffer an injury or drastic decline in 2013, there’s no compelling reason to execute an extension now, unless, of course, the Yankees fear that the market for Cano would break through the Arod barrier. Then again, with Scott Boras as his agent, if that is a real possibility, chances are Cano wouldn’t even consider forgoing free agency.

Even if Cano racks up 10 wins in 2013, if he's 'through the Arod barrier' the Spankees should cheerfully forgo the opportunity to sign him.

Ultimately, if Cano is willing to sign a deal at terms comfortable to the Yankees, they should it now. If the Bronx Bombers have any reservations, however, they should wait until the off season.

Gutsy writing, right there.

I disagree. They should reject comfortable terms, but jump in if they have reservations! The George Costanza way!

"Well, it's not like I was expecting Scott Boras."

{Boras, jumping into scene): "NOBODY EXPECTS SCOTT BORAS."

"Oh no!"

"My key weapon is surprise. Surprise and fear. My two main weapons are surprise and fear and an almost fanatical devotion to my clients. My three main weapons are ..."

"My God! What do you want?"

"8 Years, $200 M."

"No."

"No? No? This is my "assistant" Mr. Fang. Mr. Fang, begin the torture."

"Torture?"

"Yes Mr. Cashman. If you don't give me what I want, then Mr. Fang will torment you with...."

{DUN DUN DUN}

"... the comfortable terms."

Why would you take additional risk (he could get hurt, he could have a bad year) for $1M in AAV savings?

And it's not even actual savings - it's just $1M less toward the soft cap, right?