The current contract of Yankees closer Aroldis Chapman includes an opt-out that, if exercised, would allow him to join the 2019-20 class of free agents. 

Prior to 2017 season, Chapman signed a five year, $86 million pact with the Yankees that allowed him to forego the final two years and $30 million in favor of becoming a free agent. Informing Chapman's decision, no doubt, is that he's coming off yet another strong season: 2.21 ERA (202 ERA+) with 85 strikeouts against 25 walks in 57 innings. For his career he own an ERA+ of 184 and a K/BB ratio of 3.56 across parts of five big-league seasons. The 31-year-old lefty still averaged 98 mph with his big fastball and regularly touches triple digits. Yes, Chapman's lost a little velocity over the years but not enough to matter much in terms of his performance. 

No doubt, Chapman could easily do better than two years and $45 million on the open market, which is why he's in a good position with the Yankees. The only given is that he won't just let his current deal play out. On Friday, Jon Heyman of WFAN and MLB Network reported that Chapman wants to stay with the Yankees and work out a contract extension with the club. If, however, that doesn't come to pass rather quickly, then Chapman will exercise his opt-out and become a free agent. The only sure thing, per Heyman, is that Chapman won't play out his current deal, which runs through the 2021 season. Players have until Nov. 4 -- i.e., five days after completion of the World Series -- to make a decision on their opt-outs. In other words, if Chapman and the Yankees are to come to an agreement to keep him in the Bronx, then it'll need to happen in fairly short order. 

The Yankees, coming off an AL East title and third straight playoff appearance, are very much in contending mode. They contend, however, with one eye on the competitive balance tax threshold (more commonly known as the luxury tax). It remains to be seen how much room they'll have in the budget, just as it remains to be seen the extent to which they're worried about exceeding the threshold. Given manager Aaron Boone's reliance on his dominant bullpen, Chapman's certainly a vital piece, and he remains at the top of his game. As such, the expectation is that the Yankees and Chapman will work something out.