The New York Yankees are currently facing one of the most important decisions of their young off-season: whether to pay Gerrit Cole, their ace, $180 million over the next five years or letting him enter free agency.
You could say that it’s not that tough a choice: in his five campaigns as the Yankees top starter, he has never posted an ERA higher than 3.50, and he just pitched 12.2 World Series innings, allowing just one run. He is a big-game pitcher and always has been.
However, the idea of paying someone close to $40 million to throw a pitch with all he’s got is a bit scary, and that’s understandable. Still, retaining Cole is a must for the Yankees.
Basically, Cole opted out of his $324 million pact after the fifth season as it was stipulated on his contract. The Yankees can nullify the move by tacking on another year to the end of the pact at the same average annual salary of $36 million.
The Yankees want to retain their ace
The Yankees have until Monday evening to reach a decision, and according to MLB insider Jon Heyman, the two parties are advancing in negotiations.
“Gerrit Cole and the Yankees are making positive steps toward a return to pinstripes,” Heyman posted on his X account.
Also in the equation is the fact that Cole missed two months with elbow issues that flared up in spring training. They didn’t require surgery, though, and he returned in time to post a 3.41 ERA in 95 innings in the regular season.
After that, he went on to post a brilliant 2.17 ERA in the 2024 playoffs, in 29 innings.
Maybe the Yankees and Cole can work out a different arrangement rather than just adding the extra year: perhaps he is willing to defer some money to give the Yanks more tax room to go after Juan Soto in free agency.
In any case, the ace is very likely to end up back in the Bronx after Monday. As he should.