Robinson Cano (Scott Halleran/Getty Images)

The second baseman has agreed to a 10-year, $240-million contract "he couldn't refuse" according to the report that would be the third largest contract in baseball history.

It didn't look good for Cano joining Seattle as singer Jay Z, who is also one of his agents, proposed a 9-year, $252-milllion deal that the Mariners did not seem to like according  to the New York Daily News. The Yankees were said to be offering a seven-year, $165-$170 million contract to stay in the Bronx.

Cano has spent his entire career with the Yankees organization after being drafted in 2001 with a .309 career average. He played for the Trenton Thunder in 2003 and 2004.

The Yankees have been active in the free agent market during the off-season signing Jacob Jacoby Ellsbury away from the world champion Boston Red Sox and All-Star catcher Brian McCann.