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Yankees Must Decide by Monday to Extend Gerrit Cole to 10-Year, $360M Deal

Nov 2, 2024, 05:09 PM

New York Yankees ace Gerrit Cole, 34, has exercised an opt-out clause in his contract, potentially making him a free agent. Cole had four years and $144 million remaining on his nine-year, $324 million deal. The Yankees can void his opt-out by adding one additional year at $36 million, bringing the total to five years and $180 million. If they do so, Cole's contract would extend to a 10-year, $360 million agreement, making it the richest contract for a pitcher in baseball history. The Yankees have until Monday at 5 p.m. ET, the end of the quiet period, to make their decision. According to a club source, the Yankees are expected to extend Cole's contract by adding the extra year, keeping him off the free-agent market.