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Gerrit Cole remains with Yankees as contract extension talks continue
New York Yankees ace Gerrit Cole will remain with the team despite exercising the opt-out clause in his contract.
While Cole initially triggered the opt-out clause in hopes the Yankees would counter by voiding it with an extra year added to the end of his current contract, it seems both sides have agreed to simply continue with things as they are.
Cole still has four years and $144 million remaining on his current contract. While the Yankees and Cole did not agree to an extension at this point, those discussions are still expected to be had in the future.
Source: Gerrit Cole, Yankees taking more time to work through extension talks, but Cole will remain with team. @JeffPassan had it first
— Brendan Kuty 🧟♂️ (@BrendanKutyNJ) November 4, 2024
After dealing with an elbow injury that delayed his 2024 start until June, it took Cole a while before he found his groove.
But once he did, the Yankees ace looked like the pitcher who won the Cy Young award in 2023.
In 12 starts after the All-Star break, Cole was 6-4 with a 2.76 ERA, 73 strikeouts, 20 walks and a 1.02 WHIP in 71.2 innings.
He also pitched well during the postseason. In his five postseason starts, he posted a 2.17 ERA with 22 strikeouts and 10 walks in 29 innings.
With Cole returning, the Yankees now turn their attention to the Juan Soto bidding war, which could get up to $700 million.