If he took PEDs in the past four years, he should demand a refund.

Of course they want to void his contract.  I am unfamiliar with any successful attempt to void a MLB contract because the player used PEDs. 

The Yankees didn't void ARod's contract in 2010.  The Yankees didn't void Giambi's contract, nor Pettitte's, nor lots of other contracts.

So when management decides a player is no longer productive, that's when they take a stand?

I'm wondering how the other teams in MLB would react to that. 

Even if ARod is completely guilty of these new charges, the Yankees deserve to be punished by paying his contract:

"The New York Yankees are exploring multiple avenues in an attempt to void their contract with Alex Rodriguez based on new allegations of illegal performance-enhancing drug use reported by a Miami newspaper, but the odds may be against their ability to do it.

According to several baseball sources who spoke to ESPNNewYork.com on the condition of anonymity, Rodriguez may 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 Major League Baseball 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."

I mean, if this new report his true, then his questionable reputation is totally shot forever.

ARod doesn't deserve the benefit of the doubt.  However, the anonymous report also doesn't deserve the benefit of the doubt.