The perennial All-Star closer is "1 million percent" going to opt out of his contract at the end of the season, a player who's friendly with Chapman told Ken Rosenthal of The Athletic.
Chapman, however, addressed the report later Wednesday and called it "completely false."
“The truth is, honestly, I feel great here,” Chapman said, according to Coley Harvey of ESPN.
He added that he has not spoken to his agent about the topic and will wait until after the season to do so, according to Bryan Hoch of MLB.com.
The 31-year-old is set to make $30 million over the final two seasons of his five-year, $86-million pact.
Opting out of his current deal could be risky, as the best available reliever during the last free-agency period - Craig Kimbrel - signed a three-year, $43-million contract in June after no longer being tied to draft-pick compensation, Rosenthal notes.
Chapman would likely be the most coveted reliever on the market if he enters free agency, as Dellin Betances and Arodys Vizcaino will be coming off major injuries. Fellow closers Sean Doolittle (club option) and Kenley Jansen (opt-out) could also be looking for new contracts.
The hard-throwing Cuban is putting together another terrific season, posting a 2.09 FIP while going 25-for-29 in save opportunities for the American League East-leading Yankees. He owns a career 14.9 K/9 rate.