New York Yankees pitcher Gerrit Cole will not be departing the team as a free agent. The Yankees chose to add a $36 million salary for 2029 to his existing contract, which had four years and a remaining balance of $144 million. Discussions between the two parties regarding the revised contract are ongoing, according to sources close to the negotiation who chose to remain anonymous in the absence of a formal announcement.
Cole’s $324 million, nine-year deal, inked prior to the 2020 season, allowed him the option to opt out following the 2024 World Series. However, the inclusion of the additional year now voids this option. At 34 years old, the right-hand pitcher has established a decorated career, earning the accolade of the 2023 AL Cy Young Award.
Cole’s 2024 season did not commence until June 19, following a diagnosis of nerve irritation and edema in his right elbow. Yet, despite these setbacks, he managed to maintain impressive statistics throughout the year. Over the course of 17 starts, the six-time All-Star attained a record of 8-5 with a 3.41 ERA and was 1-0 with a 2.17 ERA in five postseason starts.
The decision to extend Cole’s contract also comes as a significant addition to the Yankees’ rotation roster. The team boasts a potential of six returning pitchers, including Carlos Rodón, Clarke Schmidt, Luis Gil, Nestor Cortes, and Marcus Stroman.
While no formal announcement regarding the contract negotiations has been made, updates to the situation are expected soon. Yankees fans and followers of Major League Baseball await with anticipation as the team solidifies its pitching lineup for the forthcoming season.
The decision to retain Cole at such a significant cost signifies the Yankees’ faith in his ability to contribute to the team’s prospective success. Despite already investing heavily in their roster, maintaining continuity and strength within their pitching staff seems to be at the forefront of the Yankees’ strategic direction.
