Official announcements from the New York Yankees or major sports news outlets

Yankees Face 5pm Deadline to Extend Gerrit Cole's Contract to $180 Million

Nov 4, 2024, 12:35 PM

Gerrit Cole has opted out of the remaining four years and $144 million of his contract with the New York Yankees, prompting the team to make a crucial decision by today's 5pm ET deadline. The Yankees can retain their ace pitcher by adding a fifth year at $36 million, extending his contract to five years and $180 million through 2029, when Cole will be 38. Cole missed time in 2024 due to arm issues, raising concerns about his long-term durability. The Yankees must weigh the risks and benefits of committing to an extended contract for their star pitcher or allowing him to enter free agency.