Gerrit Cole, the New York Yankees ace, had a stellar 2024 season despite sitting out for two months due to elbow injury. His postseason form was stellar where he finished with 2.17 ERA. However, as soon as the off-season kicked off, Cole made a drastic step with regards to his contract situation.
The ace signed a 9-year $324 million contract in 2019 with the New York Yankees, which made him the richest pitcher then. However, he had an opt out clause after 5th year i.e after 2024 season. While Cole was believed to have exercised his opt out, a last minute masterstroke by general manager Brian Cashman saved the day.
Gerrit Cole Agrees To Stay With Yankees On Existing Contract
Gerrit Cole is set to continue as the New York Yankees’ ace following a recent decision to rescind his contract’s opt-out clause. This arrangement keeps Cole in the Bronx on his existing four-year, $144 million deal, as reported by the NY Post. Although Cole initially exercised his option for an additional fifth year, potentially adding $36 million to his contract, Yankee management declined to extend his deal. Instead, they engaged in discussions with Cole and his agent, Scott Boras, resulting in an agreement to maintain the current contract terms through 2028. Notably, Brian Cashman stated that the Yanks prioritized retaining Cole, as the pitcher’s value to the team as a consistent leader and one of the sport’s top pitchers is profound.
He also hinted at the possibility of extension talks in the future, highlighting the mutual interest between Cole and the Yankees in maintaining the long-term partnership. Having said that, Gerrit Cole’s 2024 season was challenging, marked by a spring training injury that delayed his return to the mound until mid-June. Despite pitching fewer games, he posted a respectable 3.41 ERA over 17 regular-season starts. He was particularly effective in the postseason, where he achieved a 2.17 ERA, although a crucial defensive misstep in Game 5 of the World Series contributed to a costly inning for the Yankees. Yet, his overall consistency and resilience have solidified his standing as an invaluable asset in the rotation, a sentiment echoed by Cashman. Overall, a late masterstroke to pacify Cole saved the Yanks $36 million off the books. This money could now come in handy in Juan Soto’s pursuit.
Bombers Interested In Blake Snell
Former CY Young pitcher Blake Snell’s impending free agency is attracting significant interest, with the New York Yankees, Los Angeles Dodgers, and New York Mets emerging as top suitors. Following a turbulent season, Snell regained form post-injury in July and is now set to capitalize on his talent in a competitive market.
This season, he pitched with Cy Young-level effectiveness, rebuilding his value and encouraging big-market teams to explore adding him to their rotations. The Yankees’ interest, however, may be contingent upon other off-season moves, specifically securing Juan Soto. If they commit a sizable financial package to Soto, their ability to pursue Snell might be impacted. Hence, finances remain a trouble for Bombers.
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