Good news, George Steinbrenner has been re-born. He’s back, in the form of his son Hal, because anonymous sources (that may or may not rhyme with Sandy Marine and/or Ron Frost) muttered a sentence or two to Wally Matthews over at ESPN New York.

Return of the Boss? Hal shows spirit:

In light of the mounting evidence that the New York Yankees are now suddenly, desperately seeking to hold onto Robinson Cano, I asked a baseball person with intimate knowledge of the Yankees, Scott Boras and the economics of the game in general if there was any chance the Bombers and Cano could reach agreement on a contract extension without having to get into a full-scale bidding war on the free-agent market.

The man responded with an expletive, followed by the word “no.”

Ok, no problem there — Cano goes to free agency and the Yankees have to compete with other teams for his services. That’s certainly a realistic possibility

But then a HUGE leap occurs:

Translation: The $189 million? Forget about it. Large checks are about to be cut, not payroll.

For Yankee fans who pine for the good ole days when the Boss never saw a hole in his roster that couldn’t be stuffed with money, this is reason to break into song. Happy days are here again.

Hal Steinbrenner has thrown his wallet back into the game.

So according to Matthews, Hal has turned into George because they might bid against other teams for Cano when he hits free agency.

Talk about jumping to conclusions. All the evidence to-date completely disproves Wallace’s theory.

1. Hal refused to sign anyone this offseason for more than 1 year, with the exception being Ichiro. And we all know the reason why a 39-year old Ichiro was signed for two years was because of possible revenue associated with his chase for 3,000 hits.

2. The Yankees purposely downgraded at both C and RF in order to save money.

3. Even if they re-sign Cano to a monster deal, why does that mean the $189 million is out the window? A bunch of players (Granderson, Hughes, Joba, Kuroda, Pettitte, Mariano, Logan, Youkilis) will be off the books and Hal can skimp on other areas of the team. He didn’t focus on 1-year deals and minor league fodder for nothing.

Get off the crack, Wallace.