SEATTLE -- The Seattle Mariners were staying quiet on Friday about a potential major deal with free agent second baseman Robinson Cano.

The team issued a statement in response to an ESPN report that Cano and the Mariners had reached agreement on a $240 million, 10-year contract pending a physical.

"We are not able to confirm any news regarding Robinson Cano at this time. If and when an agreement is completed and finalized, we will announce," the statement read.

Cano's reported deal would be one of the largest in baseball history and a coup for a franchise that's gone a dozen years since making the postseason. It would bring creditability for the Mariners after striking out in the past in their pursuits of big free agents like Prince Fielder and Josh Hamilton.

Cano is a five-time All-Star second baseman for the Yankees. Last season, he played in 160 games, hitting .314 with 27 homers and 107 RBIs, while posting a .899 on-base plus slugging percentage. He finished fifth in American League most valuable player voting.

Seattle has plenty of financial room to make a large cash commitment. The only major contracts on the books for 2014 are for pitchers Felix Hernandez and Hisashi Iwakuma. Helping provide room to increase the payroll is the Mariners' investment in a new regional sports network that is expected to net Seattle significant revenue in the coming years and it's not a surprise the club was able to make such a staggering offer.

But finalizing a deal with Cano won't solve all of Seattle's problems. It's a start, immediately adding a legitimate slugger to the middle of a lineup that finally showed some pop last season after years of floundering with one of the worst offenses in baseball. The Mariners have plenty of other problems to solve, including adding another established starter to their rotation and finding solutions for an outfield filled with questions.