New York Yankees ace Gerrit Cole almost led the team to a World Series victory in 2024. The Yankees fell short against the Los Angeles Dodgers, though, and now Cole is reportedly opting out of his contract, Kiley McDaniel of ESPN reports. However, McDaniel revealed how the Yankees can void the opt out.
“BREAKING: New York Yankees ace Gerrit Cole opted out of his contract, sources tell me and @JeffPassan. The Yankees can void the opt-out by adding one year and $36 million to the four years and $144 million that Cole had remaining on his deal,” McDaniel wrote on X, formerly Twitter.
It will be a situation to closely monitor. For now, the only news to report is that Cole has opted out of his deal.
Cole pitched well in the World Series. He was especially impressive in Game 5. In the 5th inning, The Yankees' defense fell apart which led to five unearned runs scoring. Cole still managed to pitch 6.2 innings on the mound and gave his team an opportunity to win. The Dodgers ultimately defeated the Yankees 7-6 to clinch the championship, but Cole's pitching was certainly not to blame.
One has to imagine the Yankees will void the opt-out and add the extra year and $36 million to his contract. The one factor to consider is a potential Juan Soto pursuit, though. Soto is expected to command an extremely lucrative amount of money in free agency. As a result, there could be some hesitancy before officially making a final decision on Cole's deal.
There are no guarantees that Soto will even return to New York, however. Losing both Cole and Soto in free agency would be a massive blow to a ball club that fell just three victories short of a World Series win in 2024.
Yankees fans will pay close attention to New York's final decision on Cole's contract.
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