Gerrit Cole opts out; Yankees can void by adding $36M to deal
Santiago Leon
230428-N-KG461-2025.MIAMI (April 28, 2023) Yeoman 2nd Class Michael Maxey, assigned to the Arleigh Burke-class guided-missile destroyer USS Cole (DDG 67), from Bremerton, Wash., poses for a picture with Skip Schumaker, manager of the Miami Marlins, during batting practice at Fleet Week Night with the Miami Marlins as part of Navy Fleet Week Port Everglades. This year marks the 32nd Port Everglades Fleet Week. Fleet Week has been hosted by Broward Navy Days and the event provides a tremendous opportunity to showcase naval technology and the Sailors, Marines and Coast Guardsmen who serve the nation. (U.S. Navy photo by Mass Communication Specialist 2nd Class Zachary D. Behrend).
New York Yankees ace Gerrit Cole opted out of his contract, which still had four years and $144 million left on it, sources told Kiley McDaniel and Jeff Passan of ESPN.
The Yankees can void the opt-out by adding one year and $36 million to the deal, which would give him $180 million over the next five seasons.
The six-time All-Star can become a free agent if the Yankees don’t add the extra year by Sunday evening, according to Bryan Hoch of MLB.com.
Cole authored a 3.41 ERA with 1.13 WHIP and 9.4 K/9 over 95 innings (17 starts) in 2024.
