Gerrit Cole Remains with Yankees on Four-Year, $144 Million Deal

New York Yankees ace Gerrit Cole has decided to remain with the team under the terms of the original four-year, $144 million contract he had the option to opt out of, sources reported to Jeff Passan of ESPN.

Despite opting out of his previous deal, Cole and the Yankees will continue discussions on a potential contract extension, according to Passan.

Had the Yankees chosen to void his opt-out, Cole's contract would have transitioned into a five-year, $180 million agreement. He originally signed a nine-year, $324 million contract in December 2019.

This season, the 34-year-old Cole posted a 3.41 ERA with a 1.13 WHIP and 9.4 strikeouts per nine innings (K/9) over 95 innings across 17 starts. His season began in mid-June following an elbow injury.

Since joining the Yankees, Cole has compiled a 3.12 ERA, 1.03 WHIP, and 915 strikeouts in 759 innings over 125 starts. The 2023 American League Cy Young winner has made three of his six All-Star appearances with the Yankees.