The New York Yankees can void Gerrit Cole's opt-out by adding one year and $36 million to the end of his deal, which would make him owed $180 million over the next five seasons, taking him through his age-38 season. If New York declines to add the extra year, Cole will become a free agent.
, who opted out of his contract last week. The Yankees can void the opt-out by adding one year and $36 million to the end of his deal, which would make him owed $180 million over the next five seasons, taking him through his age-38 season. If New York declines to add the extra year, Cole will become a free agent. The deadline is set for 5:00 p.m. ET on Monday.
He had four years and $144 million remaining on the nine-year, $324 million contract he signed with the Yankees in December of 2019. On one hand, Cole remains an elite starting pitcher who has carried the Yankee rotation for his five seasons in the Bronx, winning the Cy Young Award in 2023 and finishing inside the top five in voting in 2020 and 2021. Cole also allowed just seven earned runs in 29.0 postseason innings this year as the Yankees reached the World Series for the first time since 2009.
However, all five of the runs he allowed in Game 5 of the Fall Classic came in what eventually turned out to be a fatal fifth inning for the Yankees, aided in part by Cole not covering first base on a ground ball. TheCole turned 34 earlier this fall and was limited to just 17 starts and 95.0 innings this season because of an elbow injury, which were both career-lows outside of the pandemic-shortened 2020 season.
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