3:18pm: Rodriguez intends to recover from his hip operation and play out the remaining five years on his contract, Yahoo's Tim Brown reports. "Alex is working diligently on his rehabilitation and looks forward to getting back on the field as soon as possible," one source close to Rodriguez told Brown. The third baseman has not heard from MLB or from the Yankees since this week's news broke. Rodriguez doesn't have interest in a discounted buyout and probably wouldn't approve a trade away from the Yankees.

8:14am: Alex Rodriguez’s Yankees career could be over. The third baseman is unlikely to play for the Yankees again, no matter what happens with allegations linking him to a supplier of performance enhancing drugs, Bill Madden, Christian Red and Teri Thompson of the New York Daily News report.

The hip surgery that Rodriguez is recovering from “will likely derail his playing career,” according to the Daily News reporters. This would force the 37-year-old into a diminished role and could lead him to consider retirement or a settlement. Even before this week’s news, Yankees officials had already begun preparing for the probability that Rodriguez would not finish the five years remaining on his contract.

Rodriguez could retire as a result of the injury if it's as serious as expected. This could allow the Yankees to be reimbursed for up to 85% of the $114MM remaining on his contract with insurance companies covering the bulk of the commitment. It’s also possible Rodriguez could return in a diminished role and decide to retire. Under this scenario the Yankees would discuss settlement options with him, the Daily News reports.