Gerrit Cole Opts Out of Yankees Contract Worth $180 Million

Nov 2, 2024, 04:23 PM

Gerrit Cole has opted out of his contract with the New York Yankees, sources confirm. Cole had four years and $144 million remaining on his deal. The Yankees can void the opt-out by adding one year and $36 million to the existing contract. This would make the total contract worth $180 million over five years. The decision now rests with the Yankees on whether to extend Cole's contract or let him become a free agent. Jeff Passan and Kiley McDaniel were among the first to report this development.