New York Yankees pitcher Gerrit Cole will remain with the team after opting out of his contract. The ace has chosen to stay on his original four-year, $144-million deal, which was confirmed by general manager Brian Cashman on Monday.
Had the Yankees decided to void his opt-out, Cole’s contract would have been extended to a five-year, $180-million agreement. Cole originally signed a nine-year, $324-million contract with the Yankees in December 2019.
“During our conversations, we were having, it was something, at the moment, we weren’t necessarily comfortable doing, but we wanted our player and our ace back, and he certainly didn’t want to go, either,” Cashman said, according to SNY’s Andy Martino.
Cashman clarified that Cole initially exercised his opt-out clause but reversed his decision after discussions involving team owner Hal Steinbrenner and president Randy Levine. The general manager stated that all parties involved agreed on the importance of keeping Cole with the team.
“Maybe the grass isn’t always greener,” Cashman said. “I think he’s happy where he’s at. I think he likes our setup. I think he likes playing for who he’s playing for and working for, and I think he likes his teammates. They give him a chance to win, and sometimes the grass isn’t always greener. And so that goes for us, too. I know we’d prefer not to be trying to look at how we’re going to replace our ace.”
Cashman also mentioned that there are no ongoing talks regarding a contract extension.
“Ultimately, we currently have in place… the contract that we signed him to that takes him through, I think, what, 37? His Yankee career hopefully will finish with the Yankees,” Cashman added. “Whether that’s at the end of this contract or anything in the future, we can still talk through that. But the most important thing is, the biggest first step is, we have our ace back, and we’re excited about that.”
Cole, 34, posted a 3.41 ERA with a 1.13 WHIP and 9.4 strikeouts per nine innings (K/9) in 95 innings pitched over 17 starts this year. He made his season debut in mid-June after recovering from an elbow injury.
Since joining the Yankees, Cole has recorded a 3.12 ERA, 1.03 WHIP, and 915 strikeouts over 759 innings pitched in 125 starts. The 2023 AL Cy Young winner has made three of his six All-Star appearances while playing for New York.
