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

Yankees' Ace Gerrit Cole Opts Out; Team Has Until Monday to Add $36M Year to Retain Him

Nov 2, 2024, 04:48 PM

Gerrit Cole, the 34-year-old ace pitcher for the New York Yankees, has exercised an Early Termination Option to opt out of his nine-year, $324 million contract, which had four years and $144 million remaining. The Yankees can prevent him from becoming a free agent by adding an additional year at $36 million to his contract, bringing the total to five years and $180 million. The team has until Monday at 5 p.m. ET to make this decision, and some reports indicate the Yankees are expected to extend the contract to retain Cole.