Cano, 31, will also receive a full no-trade clause as part of the deal, which is contingent upon him completing a physical on Monday.
Cano and his representatives flew to Seattle on Thursday and met with the Mariners’ top executives. The team made the five-time All-Star an offer he could not refuse just hours after negotiations nearly broke down because of Jay Z’s attempts to raise the second baseman’s price tag at the last minute.
Cano will become the third-highest paid player in baseball history, trailing only behind Alex Rodriguez and Albert Pujols.
The Yankees, who have agreed to several bad long-term deals in the past, insisted that they would not go as high as $200 million in an effort to keep their star player, and that they did not feel it would be enough to retain him anyways. However, Stephen A. Smith indicated on ESPN Radio Friday afternoon that a source within Cano’s camp had told Smith that the All-Star would have stayed in the Bronx if the Yankees had made an offer valued at $200 million.
For the Mariners, they have yet to confirm the signing, instead indicating in a statement that, “We are not able to confirm any news regarding Robinson Cano at this time. If and when an agreement is completed and finalized, we will announce.”