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Report: Gerrit Cole could sign record-breaking eight-year, $280 million deal

© Geoff Burke-USA TODAY Sports

Gerrit Cole came into the offseason as the most coveted free agent in baseball. Now, the bidding war and demand for the All-Star pitcher is so intense that he could land an eight-year deal worth upwards of $280 million.

According to The Athletic’s Jayson Stark, there is now a growing belief that Cole could land a deal that would break numerous MLB records.

According to the report, the 29-year-old could receive an eight-year contract that would mark the first time in nearly 20 years that a pitcher received a contract of that length.

Even more incredible, a contract worth upwards of $250 million would blow past David Price’s current deal (seven years, $217 million) and that figure might only be the floor for Cole’s contract.

If Cole lands an eight-year, $280 million contract, it would make him MLB’s highest-paid pitcher both in total salary and annual average value at $35 million per season. Currently, Houston Astros pitcher Zack Greinke holds the record at $34.417 million.

The New York Yankees have received ownership approval to sign Cole to a record-breaking deal. Of course, they will face plenty of competition from the Los Angeles Angels and Dodgers, who are among the favorites to sign Cole.

Cole is coming off a 2019 season with a 2.50 ERA, 0.89 WHIP and 326 strikeouts in 212.1 innings. Even more impressive, he recorded a 1.79 ERA, 0.74 WHIP and held opponents to a .160 batting average in the second half.

One thing is for certain, agent Scott Boras is going to make sure Cole’s contract breaks records.