Brian Cashman expects Alex Rodriguez to be back sometime in the middle of the season.

But the Yankees’ general manager is also realistic enough to acknowledge the third baseman’s surgically repaired hip could cost him all of 2013.

“I’ve been saying all along, ‘Is it possible he might not be able to come back this season?’ Sure, it’s possible,” Cashman said yesterday. “It’s a serious surgery. But there’s no indication he won’t be back by the summer. At the same time, when you’re dealing with this kind of thing, there are no guarantees.”

Rodriguez has been undergoing physical therapy at Yankee Stadium, but according to Cashman will be heading to Miami soon. Rodriguez will do most of his work with the Yankees either in Tampa or at the Hospital for Special Surgery in Manhattan, where he had the operation to repair a torn labrum and impingement in his left hip.

“I talked to his physical therapist the other day and he said Alex is exactly where he should be,” Cashman said. “There haven’t been any changes or anything unexpected.”

Despite the optimistic prognosis, the reality remains Rodriguez has had two major procedures done since 2009 — one on each hip — and will turn 38 in July, around the time his expected six-month recovery would end.

“There are always going to be challenges with anything like this,” said Cashman, who signed Kevin Youkilis to a one-year deal worth $12 million to fill in at third base. “But we’ve seen him come back strong before and he’s already doing the things necessary to come back again. Hopefully we see him by the summer. That’s our plan.”

Rodriguez is just one question mark the Yankees have as they approach spring training. Derek Jeter, CC Sabathia and Mariano Rivera have all had surgery since the last time they took the field and the Yankees are relying on each to be important players this season.

Rivera will be set up again by David Robertson, who avoided arbitration by agreeing to a one-year deal worth $3.1 million. The right-hander was the only remaining arbitration-eligible player that hadn’t settled with the Yankees.

* Cashman, Joe Girardi, Rivera and Mark Teixeira are scheduled to attend a fundraiser for CBS Radio engineer and producer Carlos Silva Feb. 4 at the Hard Rock Café in Times Square. Silva is battling cancer and the Yankees will be joined by John Sterling and Suzyn Waldman for a Hot Stove Q & A. Fans can also bid for items to raise money at Yankees.com/auction.