"Yankees' Report: RHP Gerrit Cole Signs Four-Year Extension"
Just two days after he chose to decline the final four years of his nine-year, $324 million contract, star pitcher Gerrit Cole of the New York Yankees has reportedly decided to honor the deal after all, according to multiple sources on Monday.
Cole had exercised his right to opt out of the remaining four years and $144 million on Saturday, but has now changed his mind and will play out the next four seasons under the original terms of the contract.
It has been reported that Cole and the Yankees are currently discussing the possibility of extending the deal.
The original agreement, which was made in December 2019, included a clause that allowed the Yankees to add an extra year to the contract at $36 million for 2029, effectively voiding Cole's 2024 opt out. However, this part of the deal is no longer applicable.
During the past season, Cole, who is 34 years old, had a record of 8-5 with a 3.41 ERA in 17 regular season starts after starting the year on the injured list due to a right elbow injury. He also had a record of 1-0 with a 2.17 ERA in five postseason starts.
In the final game of the World Series, which saw the Los Angeles Dodgers claim the championship title, Cole held the Dodgers hitless for four innings. However, things quickly fell apart in the fifth inning, with all five runs scored against him being unearned. The Dodgers went on to win 7-6 and lift the World Series trophy at Yankee Stadium.
During his five seasons with the Yankees, Cole finished fourth (2020), second (2021), and ninth (2022) in the American League Cy Young Award voting before finally winning the prestigious award in 2023. In that year, he had a record of 15-4 with 222 strikeouts and an AL-best 2.63 ERA in 209 innings.
Throughout his 12-year career with the Pittsburgh Pirates (2013-2017), Houston Astros (2018-2019), and Yankees, Cole has a record of 153-80 over 317 starts (1,954 innings) with 2,251 strikeouts and 500 walks. In 22 playoff starts, he has a record of 11-6 with a 2.77 ERA.
