NEW YORK YANKEES ACE GERRIT COLE’S CONTRACT UNCERTAINTY
The New York Yankees have some important decisions to make before the start of the season. One of the biggest questions revolves around slugger Juan Soto and where he will fit into the lineup. Additionally, the team is considering another acquisition for their pitching staff.
However, one thing is certain for the Yankees: Gerrit Cole will be their ace in 2024. Beyond that, the future of his massive contract remains uncertain.
Cole’s contract includes an option to opt out after the 2024 season. If he chooses to do so, the Yankees will have to decide whether to pick up a one-year club option worth $36 million to prevent him from leaving. This would extend his contract to a record-breaking 10 years, worth a total of $360 million.
While this scenario seems likely, there are other possibilities. If Cole decides not to opt out, he will become an unrestricted free agent in 2028 at the age of 38. At that point, he may be able to secure a larger contract on the open market. MLB contracts continue to grow, and Cole’s skills as a pitcher may still be valuable in the later years of his career.
Alternatively, Cole could choose to opt out and re-sign with the Yankees on a new deal. This could potentially earn him even more money, although the average annual value of the contract would be deferred. The Yankees could use this structure to add more talent to their roster around Cole.
Lastly, if Cole does opt out, the Yankees could decline their club option and allow him to explore free agency. This would give them the opportunity to allocate their funds elsewhere.
While it is hard to imagine the Yankees finding a better investment than Cole, there is a possibility that he may find a new home in 2025. The team has been cautious with extending contracts for players who have opted out in the past, as seen with Álex Rodríguez’s decline after signing a ten-year deal in 2007.
Only time will tell what the future holds for Gerrit Cole and the New York Yankees. As the reigning AL Cy Young Award winner, Cole’s performance will undoubtedly play a significant role in the team’s decision-making process.
In a shocking turn of events, the New York Yankees find themselves in a familiar predicament. Just like when they extended pitcher CC Sabathia in 2011, only to see his performance decline shortly after, the team may have made another costly mistake. This time, it’s with their star pitcher Gerrit Cole.
According to baseball analyst Mike Axisa, the Yankees may have set themselves up for a major financial burden. Despite Cole’s impressive performance in his first season with the team, there is a possibility that he could opt out of his contract after the 2024 season. And if he does, the Yankees will be on the hook for the largest pitcher’s contract in baseball history.
While anything is possible, Axisa believes that this scenario is the most likely outcome. He believes that Cole will have another successful season in 2024, and then exercise his opt out clause. The Yankees, in turn, will have no choice but to pick up his club option, which will come with a hefty price tag.
Of course, there is always the chance that a catastrophic injury could derail Cole’s plans. But barring that, Axisa believes that the smart money is on Cole using the opt out and the Yankees being forced to pay up.
It’s a risky move for the Yankees, one that could come back to haunt them. But in the high-stakes world of Major League Baseball, sometimes you have to take risks in order to win. Only time will tell if this gamble pays off for the Bronx Bombers.
According to the Source heavy.com