Gerrit Cole will remain with the New York Yankees rather than become a free agent. The Yankees and the pitching star have agreed to stay together.
Cole had opted out of his original nine-year, $324 million contract signed before the 2020 season, but the Yankees could have voided that opt-out by adding an additional year at $36 million.
Instead of that happening, though, Cole is returning to the Yankees on the four years and $144 million that was left on his original deal, per multiple reports.
The GM indicated they were glad to have the ace back, and there were no active extension discussions as of right now. It is expected that there could be extension talks as the offseason moves forward. In essence, this move erases the fact that Cole ever opted out in the first place.
Had the Yankees added the extra year, Cole’s new deal would have been for five years and $180 million, taking him through the 2029 season.
Keeping Cole gives the Yankees certainty atop their rotation, with Cole, Carlos Rodon, Clarke Schmidt, and Luis Gil expected to headline it in 2025.
The Gotham Reporter 