The New York Yankees and Gerrit Cole will continue to stay together under the veteran right-handers’ current contract, which has four years and $144 million left on it.
Cole had opted out of his deal on Saturday, initially forcing the Yankees’ hand to either tack on one year worth $36 million of his deal or let him hit the free-agent market. Instead, the two sides are moving forward as though none of that ever happened.
Signing a nine-year, $324 million contract ahead of the 2020 season, Cole had largely lived up to his role as the Yankees’ undisputed ace and one of the best pitchers in baseball. Across his first four years in New York after coming over from the Houston Astros, he posted a 3.08 ERA and won the 2023 American League Cy Young Award after going 15-4 with a 2.63 ERA.
His 2024 season was delayed due to a shoulder injury that held him out until June 19. Upon his season debut, he struggled, posting a 6.75 ERA across his first four starts. In his final 10 regular-season starts, he looked like the Cole of old, with a 2.25 ERA.
He headlined the Yankees’ rotation to an American League pennant. He posted a 2.17 ERA during the postseason, but his inability to cover first base during the fifth inning of Game 5 of the World Series against the Los Angeles Dodgers was the turning point that led New York to blow a 5-0 lead and ultimately, the series.
On top of injury concerns, Cole’s velocity has gradually dipped over the last two seasons, which offers understandable cons when considering adding another year to his contract, which would keep him in Yankee pinstripes until his age 38 season.
