(Reuters) - Alex Rodriguez and the New York Yankees will hold a news conference on Sunday at Yankee Stadium, the team announced, an event that will likely address his future with the franchise.

The news conference will include Yankees general manager Brian Cashman and manager Joe Girardi.

Rodriguez, 41, has played sparingly recently and there has been speculation the team could release him. The Yankees are paying him $21 million annually for this season and next, though the two sides could negotiate a buyout agreement.

Having been demoted from his full-time designated hitter role, Rodriguez is batting just .204 with nine home runs.

With 696 career homers, he is fourth on the all-time list behind Babe Ruth at 714.

Rodriguez arrived with the Yankees in 2004, and has claimed two MVPs and a World Series title during his New York tenure.

But his career has been partly defined by controversy and his attachment to steroid use. He was suspended for the entire 2014 season for his involvement in Major League Baseball’s Biogenesis scandal.

(Writing by Jahmal Corner in Los Angeles; Editing by Andrew Both)