Right-hander Gerrit Cole decided on Monday to stick with the New York Yankees on the four-year, $144 million contract he had previously opted out of on Saturday. The team confirmed this decision late in the day. The original deal stated that Cole would only remain a Yankee without reaching free agency if the team added a one-year, $36 million extension to his contract, making it a five-year, $180 million deal. The Yankees chose not to go this route, but they managed to come to an agreement for Cole to stay in New York nonetheless.
Yankees GM Brian Cashman mentioned that they had healthy discussions with Cole about keeping him on the team. The deadline for the decision was initially set for Sunday but was extended to Monday at 5 p.m. ET to allow for ongoing conversations. While the Yankees would love for Cole to finish his career with them, Cashman indicated that there are no talks currently happening regarding a contract extension. The timing of the end of the World Series played a role in the situation, as it was a tight 48-hour window for making a decision.
Cashman clarified that they did not see it as a game of chicken with Cole and his representatives but rather as a series of discussions that should have taken place before the opt-out. The Yankees were initially prepared to let Cole go but instead opted to continue discussions.
Cole, a six-time All-Star, joined the Yankees before the 2020 season on a nine-year, $324 million contract, marking the largest deal ever given to a pitcher at the time. He became a key player for the team, achieving a 3.08 ERA in 108 starts over the next four seasons. His standout year was in 2023 when he won his first Cy Young Award. However, the 2024 season got off to a rocky start due to nerve irritation and edema in his elbow, resulting in him missing part of the season.
Despite the setbacks, Cole returned to form and delivered solid performances, including during the postseason. While there were some ups and downs, he showed his value to the team. His final start of the season, unfortunately, ended in a loss due to defensive mistakes by the team.
Overall, Cole’s decision to stay with the Yankees reflects his satisfaction with the team, his teammates, and the organization as a whole. The Yankees are pleased to retain their ace pitcher and are looking forward to his continued contributions to the team.
