Days after their season ended with a World Series loss to the Dodgers, the Yankees now face a decision on one of their best players. Ace Gerrit Cole triggered the opt-out clause in his contract on Saturday, in somewhat surprising fashion, according to ESPN’s Jeff Passan and Kiley McDaniel. That doesn’t mean Cole is guaranteed to hit free agency.
The Yankees, as per the terms of the nine-year, $324 million contract Cole signed in December 2019, can add on a 10th year (2029) for $36 million and negate the opt-out. Indications are they’re likely to do that before Monday’s deadline. Cole has four years and $144 million left on his deal.
If the Yankees tack on another, it’ll be a five-year, $180 million deal from here on out. There’s a small chance, with Cole entering his age-34 season after dealing with injuries in 2024, that the Yanks will walk away and Cole will enter a free agent market that already includes top starters Corbin Burnes, Max Fried, Blake Snell, Jack Flaherty and Sean Manaea. The first five years of Cole’s deal have gone very well, as he has been named an All-Star three times while logging a 59-28 record and 3.
12 ERA in 125 starts . He logged at least 181 innings in each season from 2021 through 2023 but elbow inflammation delayed the beginning of his 2024 season and limited 95 fine innings of work last year (3.41 ERA in 17 starts).
He posted a 2.17 ERA in 29 postseason innings over five starts, including two in the World Series. His failure to cove.
