Some New York Yankees fans fear that ace Gerrit Cole could opt out of his current contract and leave in MLB free agency. However, new insight from a top MLB insider explains why he is going nowhere.
After only making 12 starts in the first season of a massive nine-year, $324 million contract, there were certainly some wondering if Gerrit Cole might be another failed expensive Yankees free agent signing. However, unlike players such as Hideki Irabu and Carl Pavano, Cole has mostly lived up to expectations.
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The six-time All-Star has been a legitimate ace during his five seasons with the franchise. And even earned American League Cy Young honors in 2023. While he missed much of the first half of this season and struggled upon his return, Cole has bounced back in a major way in recent weeks. And he is a key part of the Yankees resurgence in August.
Gerrit Cole contract: Nine years, $324 million
Could Gerrit Cole test free agency this winter?
Reestablishing himself as one of the best pitchers in the AL has led to speculation he could use a player option to forego the final four years of his contract and test free agency this winter. With Juan Soto also hitting the open market after the season, the last thing New York needs is to get into bidding wars with rivals for both Soto and Cole.
However, on Tuesday ESPN MLB insider Jeff Passan explained the unique clause in Gerrit Cole’s contract that guarantees the Yankees will keep him in pinstripes long-term.
Gerrit Cole stats (2024): 5-3 Record, 3.86 ERA, 1.333 WHIP, 69 SO, 22 BB, 63.0 IP
“Cole also figures into this winter’s free agency. With a strong expectation that he will opt out of the final four years and $144 million of his nine-year, $324 million contract with the New York Yankees,” Passan wrote. “But any fear that Cole will find greater riches elsewhere can be allayed. If he chooses to opt out, the Yankees can nullify it by adding a 10th year at $36 million onto his original deal.”