New York Yankees right-hander pitcher Gerrit Cole opted out of his four-year, $144 million contract back in November. To prevent Cole from reaching free agency, the Yankees' only initial option was to void his opt-out and offer a one-year, $36 million extension, resulting in a five-year deal worth $180 million.
However, the deal didn't come to fruition as neither side could come to terms. Cole only had to wait a couple of days before he agreed to a new deal with the Yankees, solidifying his future in pinstripes.
Discussing his decision to re-sign with reporters, Cole noted he never had any intentions of leaving, as he loves being a Yankee.
“The intention wasn't to do anything other than stay,” Cole told reporters. “I was happy to be where my feet were, back in Yankee Stadium.”
Before the 2020 season, Cole signed a $324 million, nine-year contract with the Yankees despite battling through some health challenges in 2023, including nerve irritation and edema in his right elbow. However, Cole still managed to deliver strong performances. He didn't make his first start of the season until June 19, yet finished with an 8-5 record and a 3.41 ERA in 17 starts. In the postseason, he was dominant, posting a 1-0 record with a 2.17 ERA in five starts, helping lead the Yankees deep into October.
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Now, nearly a year removed from the elbow injury that delayed his 2024 debut, Cole is in a much better position physically. He described himself as in a “really good spot” compared to previous years, having started his offseason throwing program earlier than in past winters.
Manager Aaron Boone acknowledged the uncertainty surrounding Cole's decision with reporters but expressed relief when the ace returned.
“He kind of put us at ease a little bit… You never know, great pitchers are obviously really attractive on the market,” Boone noted. “But obviously, relieved when he came back in.”
With Cole now locked in for the long term, the Yankees are counting on Cole to hopefully lead them to a deep October run.
