The Yankees are next in MLBTR’s 2013 Contract Issues series:

Eligible For Free Agency (10)

Contract Options (5)

Robinson Cano : $15MM club option with a $2MM buyout. The Yankees will exercise this option. It's hard not to wonder if they'll break from team policy and discuss an extension with the star second baseman.

: $15MM club option with a $2MM buyout. The Yankees will exercise this option. It's hard not to wonder if they'll break from team policy and discuss an extension with the star second baseman. Rafael Soriano : $14MM player option. Soriano can opt out and take $1.5MM buyout after the season. If Soriano finishes the season with a gaudy save total and a sparkling ERA, he could opt out and test free agency. But the market for elite free agent closers can dry up unexpectedly, as fellow-Scott Boras client Ryan Madson found out this past winter. The safer bet would be staying put and accepting the $14MM salary.

: $14MM player option. Soriano can opt out and take $1.5MM buyout after the season. If Soriano finishes the season with a gaudy save total and a sparkling ERA, he could opt out and test free agency. But the market for elite free agent closers can dry up unexpectedly, as fellow-Scott Boras client found out this past winter. The safer bet would be staying put and accepting the $14MM salary. Curtis Granderson : $13MM club option with a $2MM buyout. The Yankees will exercise the option. As with Cano, the extension question persists.

: $13MM club option with a $2MM buyout. The Yankees will exercise the option. As with Cano, the extension question persists. Pedro Feliciano : $4.5MM club option. The Yankees will decline this option, which means they won't get a single pitch for their investment in Feliciano.

: $4.5MM club option. The Yankees will decline this option, which means they won't get a single pitch for their investment in Feliciano. David Aardsma: club option based on 2012 performance bonuses. The Yankees' decision will depend on Aardsma's recovery from Tommy John surgery and his performance upon returning to action midseason.

Arbitration Eligible (9)

Hughes is in line for a raise from $3.2MM, while Gardner's extended stint on the disabled list will reduce his bargaining power in arbitration. Nix could be non-tendered and if the Yankees aren't optimistic about Chamberlain's right ankle injury, they could release him as well. Pena and Cervelli are playing at Triple-A and won't necessarily accrue enough service time to qualify next offseason.

2013 Payroll Obligation

The Yankees have already committed more than $119MM to next year's payroll, according to Cot's Baseball Contracts. That's exceptional for most franchises, but the Yankees have spent more than $200MM on their team in each of the past five seasons. Expect GM Brian Cashman to look for ways to reduce payroll, as the team aims to slip under the $189MM luxury tax threshold for 2014.