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Yanks to ARod: Sign Now or Drop Dead

The latest in the ARod opt-out saga:

The Yankees have a message for Alex Rodriguez: sign an extension before opting out of your contract, or don't sign with us at all.

A source told the Daily News that the Bombers have made it clear to A-Rod and his agent, Scott Boras, that they have no intention in taking part in a free-agent bidding war for the two-time American League MVP, and that if he chooses to opt out of his current contract and open the bidding to the rest of baseball, his days in pinstripes will be over.

Rodriguez has until 10 days after the World Series - Nov.10 at the latest - to opt out of the contract.

With the Texas Rangers, A-Rod's former team, set to contribute more than $30million to the $81 million that Rodriguez will make on the final three years of his current deal, the Yankees would be on the hook for that money if they were to sign him to a brand-new pact, as Texas would no longer be responsible for it should the contract be dissolved.

Rodriguez reiterated yesterday that he has no plans to negotiate a new deal during the season, setting up a potential showdown this fall between the Bombers and the third baseman.