Yankees will agree to Gerrit Cole deal, insider says

It doesn’t look like he’s going anywhere.

New York Yankees ace Gerrit Cole opted out of his contract with the team on Saturday. ESPN’s Keely McDaniel and Jeff Passan first reported.

Cole had four years and $144 million remaining, to which the Yankees could add another year for $36 million to keep their Cy Young winner off the free agent market.

And there is an opinion that this is the path the Yankees will take with Cole.

According to MLB Insider Jim BowdenThe Yankees are expected to clear Cole’s waivers by adding another year to his contract worth $36 million. This will keep Cole in the Bronx through the end of the 2029 season.

New York has until Monday evening at 5:00 pm ET to make a decision on Cole. Mark Feinsand of MLB.com. If they don’t agree, Cole will become a free agent.

Before the 2020 season, Cole signed a then-record contract for a starting pitcher when the Yankees signed him to a nine-year contract worth $324 million.

In five seasons with the Yankees, Cole has a 59–28 record and 3.12 ERA in 759 innings (125 starts). The right-hander won the AL Cy Young Award in 2023 after posting a 15-4 record, 2.63 ERA, 0.98 WHIP and 222 strikeouts in 209 innings.

Cole missed the first three months of the 2024 campaign with an elbow issue but returned to put up solid numbers with an 8-5 record, 3.41 ERA and 99 strikeouts in 95 innings and 17 starts. He also had a strong October, posting a 2.17 ERA in five postseason starts.

Cole will turn 35 next September. If the Yankees unexpectedly change course and don’t clear his waiver, elite starters like Blake Snell, Max Fried and Corbin Burns will find themselves on the free agent market as potential replacements.

But it looks like Cole will stay put.