The Big Lead

Yankees, Gerrit Cole weird drama comes to an end

By Max Weisman

Cole will remain a Yankee for at least four more years
Cole will remain a Yankee for at least four more years / Vincent Carchietta-Imagn Images
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Yankees ace pitcher Gerrit Cole opted out of his contract with the New York Yankees following their World Series loss to the Los Angeles Dodgers. Cole made the decision not so he could become a free agent, but so the Yankees could add another year to his nine-year $324 million contract, an option the team had if Cole decided to opt out following this season.

However, the Yankees didn't immediately trigger that extra year at $36 million, leading some to believe that either the two sides were working on a restructured deal, or the Yankees were actually going to let Cole test free agency.

After the two sides negotiated, they agreed to let Cole remain on the contract he signed with New York prior to the 2020 season. There are four years, $144 million remaining on that deal. It's as if Cole never opted out in the first place.

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It was a weird few days for fans following this story. According to SNY's Andy Martino, the Yankees weren't comfortable adding another year to Cole's contract, but Cole expected the Yankees to do so almost automatically when he opted out. Due to the miscommunication, the two sides just agreed to pretend like Cole didn't opt out in the first place, and the Yankee ace will be paid $144 million over the next four years.

Yankees executive Brian Cashman told Martino that there are no underlying medical issues with Cole to be dealt with this offseason, so it remains a bit of a mystery why New York didn't want to add on that extra year.

Both sides reiterated their desire to continue their current relationship. In his five years in the Bronx, Cole has a 3.12 ERA in 125 starts, and won the AL Cy Young award a season ago. The next time we'll see him in a Yankee uniform will be when pitchers and catchers report on Feburary 12, 2025.

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