The Yankees have made a significant contract offer to Cano, 'significant' being code for a smaller offer than the one they'd have to make when countering the Angels or Dodgers next winter. It does seem the Yankees want to keep Cano, but perhaps not at free agent dollars.
The Yankees want to avoid a full-on shoot out amongst the game's big spenders over Cano. The offer is rumored to be in the realm of way too much for way too long, with a no trade clause, and ninja insurance protection covered by the Yankees. There are no incentive clauses in the contract, not even for breaking the all-time home run record while in pinstripes.
Cano has refused to speak about the contract offer, mainly because he knows he's never going to accept it. Look at the contract Boras got for Soriano this winter. Would you sign the first offer from the Yankees a full season before you hit free agency? You would? How long have you been addicted to methamphetamines?