In December 2019, the New York Yankees signed Gerrit Cole to a then record-breaking contract for a pitcher — nine years, $324 million. The signing brought fanfare to the Bronx as Cole grew up a Yankees fan and gave New York the ace they desperately needed.
Despite missing 2025 due to Tommy John surgery, Cole has lived up to expectations. In pinstripes, he’s been named to three All-Star teams, captured the 2023 AL Cy Young award, and helped lead the Yankees to last year’s AL pennant.
However, few knew when Cole signed that the move would ultimately cost New York 21-year-old Samuel Basallo — one of baseball’s best prospects — who just signed a massive extension with Baltimore.
The Domino Effect of Cole’s Contract
The Orioles locked up Basallo — ranked as the eighth-best prospect by MLB Pipeline and No. 4 by ESPN’s Kiley McDaniel — with an eight-year, $67 million contract. Escalators can push the deal to $88.5 million, plus a 2034 club option, according to Baltimore Banner’s Andy Kostka.
That extension never would have happened if events had unfolded differently four years ago.
Following Basallo’s signing, McDaniel revealed the Yankees initially had an agreement with Basallo in January 2021 when he was an international free agent, but Cole’s signing derailed those plans.
“The Yankees had a deal with Basallo as an amateur before he was eligible to sign in January 2021. Then, the Yankees signed Gerrit Cole as a free agent. That cost them $1M in international pool money for the 2021 class,” McDaniel explained.
The Yankees had a deal with Basallo as an amateur before he was eligible to sign in January 2021.
— Kiley McDaniel (@kileymcd) August 22, 2025
Then, the Yankees signed Gerrit Cole as a free agent. That cost them $1M in international pool money for the 2021 class.
Basallo was cut loose and signed with Baltimore for $1.3M. https://t.co/z6fjWal4LV
After their deal collapsed, Basallo — who plays catcher and first base — signed with Baltimore for $1.3 million.
Basallo’s Rapid Rise
Basallo made his MLB debut Sunday against Houston, going 1-for-4 with two RBI.
Before his call-up, the Dominican Republic native dominated Triple-A pitching. In 76 games with Norfolk, he posted a .966 OPS with 23 home runs and 17 doubles. He turned 21 on Aug. 13.
While the Yankees would likely make the same decision to sign Cole despite losing Basallo, it has to sting knowing they could have had a potential franchise cornerstone for the next decade.
