The New York Yankees have several contract decisions to tackle this offseason, with the most significant being the future of free agent Juan Soto. Right-hander Gerrit Cole also has the option to opt out of his hefty four-year, $ 144 million contract.
If Cole chooses to opt out, the Yankees can prevent that by exercising an option for an extra year at 36million.CBSSports’MikeAxisanotedthisuniquesituation,statingthatifColeoptsout,theYankeescanextendhiscontracttoaten−yeardealfor 36 million annually.
Axisa predicts that, barring a major injury, Cole will indeed opt out and that the Yankees will likely take the opportunity to add the extra year. This move aligns with the team’s strategy, especially since they traded for Soto with plans to keep him alongside Cole and Aaron Judge.
Experts around MLB expect Cole to utilize the opt-out. Jon Heyman suggested on a Bleacher Report livestream that Cole would likely go for it, with the Yankees prepared to respond by granting the additional year.
Financially, opting out makes sense for Cole. At 34, adding a fifth year could boost his earnings to $ 180 million, keeping him with the Yankees through age 39.
Sports Illustrated’s Pat Ragazzo echoed this sentiment, emphasizing that Cole’s decision to opt out would elevate his deal to five years and $ 180 million. Since joining the Yankees before the 2020 season, Cole has made a significant impact, boasting a 57-27 record with a 3.11 ERA over 122 starts.
Though Cole has faced challenges this season, including an arm injury that sidelined him earlier in the year, he has shown signs of improvement in recent games. Despite a rough outing against the Red Sox, he had performed well in the previous six starts, demonstrating his ace potential. If he can stay healthy, there’s a strong chance he’ll regain his elite form from 2018 to 2023.
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