If Major League Baseball disciplines Alex Rodriguez over the latest illegal performance-enhancing drug allegations, the New York Yankees plan on exploring multiple avenues in an attempt to void the star third baseman's contract.

"(The Yankees) can't do anything until the MLB investigation is concluded and they take action, if any," a source told ESPNNewYork.com.

According to several baseball sources who spoke to ESPNNewYork.com on the condition of anonymity, Rodriguez might be in little danger of having his contract voided, even if the charges turn out to be true. There is no precedent to successfully void a contract in baseball over PEDs.

If MLB finds cause to discipline Rodriguez based on allegations made in a 5,400-word story published by the Miami New Times, the Yankees will try to find an escape hatch from their remaining five-year, $114 million obligation to the three-time American League MVP.