A report from ESPN deportes is saying that A-Rod needs to get his cyst operated immediately and that he would need to be out the next 10 weeks, making him miss the first month of the season. The articles source is A-Rod's brother, Joe Rodriguez. Now, I don't know how true this is, since ESPN deportes reported earlier in the winter that the Yankees were close to signing Manny Ramirez for 3 years and $75 million, which turned out to be false. However, they claim to have gotten the information from A-Rod's brother, which would lend some credibility. We'll have to see how this turns out.
4:31 Update: According to Peter Abraham, A-Rod will not need surgery as the Yankees hope he can get by with rest and rehabilitation. A-Rod has a torn hip labrum as well as a cyst. He will have the cyst drained, which will hopefully remove the tightness he's been feeling, but Cashman said that he will need to have the surgery eventually and that the surgery will require 4 months of recovery. The Yankees want to try and pass A-Rod through the season, and then have him get the surgery in the off season.
For some perspective, Mike Lowell had a partially torn hip labrum, and had a rough season last year, but not so bad that he was useless. He missed some time with an oblique strain in August, but had been dealing with the hip problem for 3 months prior to that. He was later taken off the ALDS roster because of the hip injury, but for the season was able to play over 100 games and get 419 at bats despite the time he missed with the oblique injury. The torn hip labrum hobbled him, but he was still able to play with it, and though his numbers suffered, he was still able to perform (.274 average, 17 homeruns, 73 RBI's). We'll see what comes of A-Rod, but Cody should be taking some grounders at third just in case.