The New York Yankees are heading into a pivotal offseason with two major decisions looming over the franchise. The first centers on Juan Soto and his potential blockbuster extension. Soto is expected to attract several high-profile suitors, including the New York Mets, who possess a seemingly unlimited budget. The Mets will undoubtedly be one of the Yankees’ primary competitors in the race to sign the 25-year-old generational talent.
Gerrit Cole’s Contract Situation
In addition to Soto, the Yankees must navigate the situation surrounding their ace, Gerrit Cole, who enters the offseason with an opt-out clause in his contract for 2025. Should Cole exercise the opt-out, it would leave four years and $144 million remaining on his current deal. However, the Yankees have a built-in mechanism to retain Cole. They can void his opt-out by adding a 10th year to his contract, valued at $36 million, effectively locking him in for an additional five seasons.
This extension would guarantee Cole’s contract until he’s 38, by which time some regression due to age is likely. Despite this, the extra season provides Cole with financial security and ensures the Yankees keep their ace for the foreseeable future.
The Yankees Can Lock Cole in For Five More Years
From a business standpoint, opting out could be a savvy move for Cole. By doing so, he forces the Yankees to guarantee that additional year on his contract, which extends his deal into 2028. Cole is already set to earn $36 million next season, and adding another high-paying year is a strategic way for him to maximize his earnings as he approaches the later stages of his career.
Cole’s Performance and Signs of Aging
While Cole did show some signs of aging this year, pitching just 95 innings compared to 209 in 2023 when he won the Cy Young award, this season’s injury seems more like an anomaly than a cause for concern. At 34 years old, Cole’s velocity may have dipped slightly, but he has remained effective, particularly in the postseason, where he has started to find his rhythm again.
The Yankees understand that Cole requires a large volume of innings to build up his arm strength and push deep into the playoffs. Despite his reduced workload this year, he enters the postseason relatively fresh, having pitched half the amount of innings compared to last season. The Yankees feel confident in his ability to contribute when it matters most.
Playoff Performance and Future Outlook
In Game 2 of the ALCS against the Cleveland Guardians, Cole found himself in some difficult situations but managed to escape with minimal damage. His ability to navigate such moments demonstrates why he remains a crucial piece of the Yankees’ plans.
Given Cole’s current contract situation, opting out seems like a smart move. By doing so, he guarantees himself an extra year at $36 million. At 38 years old, Cole is unlikely to secure another lucrative contract, making that additional season financially beneficial. Even if he were to test the open market, the extra $36 million would likely cover any potential salary increase he might otherwise secure in a new deal.
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Yankees’ Big Decisions
As the Yankees face the prospect of a Juan Soto extension and Gerrit Cole’s contract decision, this offseason could shape the team’s future for years to come. Balancing Soto’s potential signing and Cole’s opt-out will be crucial as the Yankees aim to retain their stars and remain competitive in the years ahead.