NEW YORK -- Yankees to Masahiro Tanaka: Make your move.

"Hopefully he has a great year and he'll have a decision to make," general manager Brian Cashman said Tuesday. "If he doesn't, then he won't."

The Yankees won't discuss a contract extension with Tanaka this season, Cashman said. The 28-year-old righty, who finished in eighth in the 2016 American League Cy Young vote, can opt out of his deal and test free agency after next season.

The Yankees and Tanaka agreed to a seven-year, $155-million deal before the 2014 season. The pact came with a opt out clause following his fourth year. The Yankees also paid a $20 million posting fee to Tanaka's Japanese team, the Rakuten Golden Eagles.

He's set to make $67 million from 2018 through 2020 if he sticks with the deal.

"We made a significant investment and he was a Cy Young award candidate last season and we certainly hope he does again," Cashman said. "But at this stage, we've had no discussions internally to pursue any type of extension."

Cashman's comments came at the opening of Orangetheory Fitness' location in Manhattan.

Tanaka had a stellar 2016. He went 14-4 (31 starts) with a 3.07 ERA -- the third-best mark in the AL.

He's 39-16 with a 3.12 ERA, 8.2 K/9 and 1.5 BB/9 since coming to America.

While Tanaka made more than 24 starts for the first time last season and didn't land on the disabled list, he still comes with considerable risk to the team signing him to a long-term extension.

In 2014, Tanaka suffered a partial tear of his ulnar collateral ligament. If it tears further, he will likely need Tommy John surgery. The procedure typically ices pitchers for between 14 and 18 months.

Tanaka avoided the procedure by strengthening the areas around the ligament. In 2015, he had right wrist tendinitis and a right forearm strain, and the Yankees admitted it could have been a warning sign that Tommy John was in his future.

Brendan Kuty may be reached at bkuty@njadvancemedia.com. Follow him on Twitter @BrendanKutyNJ. Find NJ.com Yankees on Facebook.