The New York Yankees could offer a contract extension to closer Aroldis Chapman.

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The New York Yankees could offer a contract extension to closer Aroldis Chapman, reports Ken Rosenthal of Fox Sports.

The team has yet to start any contract negations with the hard-throwing pitcher and are waiting until near the Aug. 1 deadline to make a decision on his future.

The Yankees could be looking to stay competitive for this season, and play the Red Sox, Orioles, Giants and Astros before the deadline.

Chapman has been one of the biggest names on the trade block, along with New York reliever Andrew Miller.

The 28-year-old has registered 17 saves in 27 appearances this season.