Jon Heyman of CBS Sports is reporting that the New York Yankees and second baseman Robinson Cano "would appear to very badly want to reach a deal."
There is mutual interest, but a significant gap in salary demands.
Cano is scheduled to become a free agent after the 2013 season.
New York was looking at David Wright's eight-year, $138 million extension with the Mets as a guideline, but Cano's agents may aim as high as Alex Rodriguez's 10-year, $275 million contract.