Ken Rosenthal has the details:
The Yankees and Robinson Cano have reached a preliminary agreement on a contract that will guarantee him $30 million over four years and could pay him about $56 million over six years. Once contract language and a physical are completed, the deal will be done.
The agreement is for $28 million over the next four years, with a $2 million buyout in 2012 and 2013, which would bring him to exactly $30 million. The option for 2012 is for $13 million and the option for 2013 is believed to be for about $15 million.
Hmmm... I over-spent by 17 million dollars over the 6 years.
This is a steal for the Yanks.