Tampa, Fla. ? The Yankees don’t intend to offer Alex Rodriguez a contract extension, leaving him the option of opting out of his deal after the season and becoming a free agent.

“Alex has a significant contract. The most significant in baseball history,” Yankees general manager Brian Cashman said Wednesday. “He has a decision to make. It’s in his contract. It’s a right he’s earned.”

Rodriguez has four seasons left in the record $252 million, 10-year agreement he signed with Texas before the 2001 season. He is owed $27 million in each of the final three seasons – with the Yankees responsible for $50.7 million and the Rangers owing $30.3 million, including $9 million in deferred money.

Under the terms of the deal, Rodriguez can terminate it after this season. He also can stay for 2008 and have the right to opt out of the final two seasons if the Yankees don’t boost his salary to $32 million annually for the final two years.

“If he exercises it, he’s a free agent. If he doesn’t, he’s not,” Cashman said. “We’d love to have him stay with us.”