Gerrit Cole, the reigning AL CY Young pitcher, has been the New York Yankees ace rotation leader for years. Cole is widely known for his durability. But this year, the tables turned as the pitcher spent two and a half months in rehab due to an elbow inflammation injury sustained during spring training.
That being said, a pitcher of Gerrit Cole’s calibre cannot sustain for long without a championship ring. While the Yankees appeared to be Cole’s best bet, the past few seasons’ results haven’t been that encouraging. Hence, ahead of the off-season, MLB analysts tipped Cole to seek an exit from New York using a loophole in his contract.
Gerrit Cole Might Exercise Opt-Out Clause To Test Free Agency Waters
The New York Yankees are bracing themselves for what could be a significant shake-up in their roster as rumours circulate that ace pitcher Gerrit Cole is expected to opt out of his contract and enter free agency after the upcoming season. Cole, who signed a record-breaking nine-year, $324 million deal with the Yankees in December 2019, has an opt-out clause after the 2024 season, creating uncertainty about his future with the franchise. Notably, Cole won the CY Young Award last year despite the team not making it to the playoffs. This year, as well, the pitcher had a false start due to an elbow injury. He is going 5-2 with a 3.72 ERA, 62 strikeouts in 58 innings pitched across 11 starts.
Meanwhile, ESPN analyst Jeff Passan stated that there is a ‘strong expectation’ among MLB insiders that Gerrit Cole will exercise his opt-out clause and test the free-agent market. The Yankees signed Cole with the hope that he would be the ace to lead them back to World Series glory. While he has certainly lived up to his billing as one of the game’s elite pitchers, the team has not yet achieved its championship aspirations. Cole’s contract, which averages $36 million per year, includes a player option that allows him to opt out after the 2024 season, a move that could now become a reality. However, the Bronx Bombers can forfeit the action by adding an additional year for $36 million to his original deal, thus making it a 10-year contract. However, with Juan Soto also on the market, the Yanks will need to carefully evaluate their priorities.
Juan Soto Extension A Far Fetched Dream For Yankees?
If the New York Yankees chose to add an extra year to Gerrit Cole’s contract, they stand at risk of losing Juan Soto. The generational star is an impending free agent who is currently delivering his career-best season with 37 home runs and counting. His market value is estimated at $500 million.
Hence, the free agency fight is likely to be reduced between New York Yankees and New York Mets due to the duo’s high spending power. Overall, the Yankee leadership will face a critical conundrum heading into next off-season. The priorities needs to be sorted to ensure the club does not violate the luxury tax rule for the third time in a row.
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