The New York Yankees are keeping their ace on the mound. According to Jeff Passan of ESPN, Cole is remaining with the Yankees on the four-year, $144 million deal that he had originally opted out of. Discussions on a potential contract extension will continue, per Passan.
Yankees keeping Gerrit Cole on $144 million contract
Cole and the Yankees have agreed to stay together despite initial expectations that the world-class pitcher would explore his options in free agency. After initially opting out of his deal, Cole has agreed to stay with the Yankees as the two sides plan to continue extension talks throughout the week. It’s the same as if Cole did not opt out.
The 34-year-old Cole signed the nine-year, $324 million contract with New York back in 2019. Over the past five years, he has established himself as the Yankees’ ace, pitching a 3.12 ERA in 125 career starts with the club. Cole was the Cy Young Award Winner last season after pitching a league-best 2.63 ERA with a .789 win-loss percentage.
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With four years remaining on the deal, Cole was interested in opting out and testing the market to see if there were bigger bucks elsewhere. However, the world-class pitcher has changed his mind and agreed to remain with the Yankees.
Now with Cole’s future solidified in the Bronx, the Yankees will turn their attention toward their other stars as free agency looms, namely Juan Soto. General manager Brian Cashman and owner Hal Steinbrenner will have some big decisions to make as they empty their pockets in an effort to get the pinstripes back to the World Series next season.
