New York Yankees ace Gerrit Cole has opted out of his contract, leaving the Yankees with a critical choice: add a fifth year worth $36 million to keep him or let him test free agency. Cole, who had four years and $144 million remaining, activated the opt-out clause Saturday, setting a Sunday night deadline for the Yankees to decide. Adding the extra year would secure Cole through 2028 at a total of $180 million.
The move comes as no surprise but still leaves Yankees management facing a challenging decision, especially with star outfielder Juan Soto potentially becoming a free agent. A source close to the team told ESPN, "It would be stunning if the Yankees allowed Cole to reach free agency." Known for his reliability and competitive edge, Cole has been a standout in New York's rotation since signing a nine-year, $324 million deal before the 2020 season-the largest ever for a pitcher at the time.
Cole's season this year was affected by elbow issues, delaying his debut until June, though he returned strong. In 17 regular-season starts, he posted a 3.41 ERA, and he was especially effective in the playoffs with a 2.17 ERA over five games. However, in Game 5 of the World Series, a miscommunication between Cole and first baseman Anthony Rizzo led to five unearned runs, ending the Yankees' title hopes.
The decision now hinges on whether the Yankees can justify the $36 million investment amid rising competition in the free-agent market. Should they decline, Cole would join a star-studded class of available pitchers, including Corbin Burnes and Max Fried, both represented by Cole's agent, Scott Boras. Cole's dominance in the postseason, where he holds an 11-6 record with a 2.77 ERA in 22 starts, makes him one of the most coveted pitchers for any team looking to strengthen its rotation.
Though the Yankees are expected to extend the contract, doing so would intensify the team's commitment to a high-stakes payroll as they look to stay competitive. Allowing Cole to explore free agency, however, could prove even riskier, as finding a comparable replacement for the rotation would be a costly endeavor. As the deadline approaches, Cole's opt-out leaves Yankees fans and management anxiously awaiting what could be one of the most significant decisions of the offseason.
