Reports: Cano's deal could be worth $56 million over six years

The New York Yankees and second baseman Robinson Cano have reached a preliminary agreement on a deal that could be worth as much as $56 million over six years, according to reports in the New York Times and the Newark Star-Ledger.

The deal will be finalized when Cano, 25, passes his physical. The contract specifics vary slightly in the reports. According to The Times, Cano will earn $28 million for the 2008 through 2011 seasons, and he will get $2 million more should the Yankees decline the 2012 option.

Cano would earn about $27 million in 2012 and 2013, if the Yankees pick up the options. Cano would be eligible for free agency after 2011 without the option years.

The Star-Ledger reports that the contract is for a guaranteed $30 milllion for four seasons, and worth up to $56 million if the Yankees exercise the options for 2012 and 2013.

Cano joined the Yankees early in the 2005 season and batted .297 with 14 homers and 62 RBIs, finishing second to Oakland Athletics reliever Huston Street in voting for AL Rookie of the Year.

Cano was an All-Star the following season, when he was third in the AL with a .342 average. He struggled early last year -- his batting average was .234 on May 17 -- but wound up batting .306 with 19 homers and 97 RBIs.

After making $490,800 last season, Cano asked for $4.55 million in arbitration and was offered $3.2 million.

Information from the Associated Press was used in this report.