Yankees to make $36 million decision on Gerrit Cole by MLB ‘quiet period’ with contract deadline change
Yankees will have to come to a decision by Monday night on Gerrit Cole after the ace pitcher opted out of a $324 million contract.
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Gerrit Cole [Image Credit: Yankees files]
New York Yankees now have until Monday night to figure out whether to keep ace pitcher Gerrit Cole with the team or not. After losing the World Series against the Los Angeles Dodgers, Cole decided to opt out of a $324 million deal.
However, the Yankees can void the decision by adding an additional year for $36 million to his already existing deal. Initially, the deciding date was on Sunday evening, but it was extended to Monday at 5 pm ET, as a source noted to MLB’s Mark Feinsand.
The date will coincide with MLB’s “quiet period” and possibly bring a new surge of change to the Yankees roster. Former SBNation and Fansided writer Mat Germain noted on X how the team should pursue Blake Snell and Corbin Burnes instead.
Gerrit Cole’s costly mistake in Game 5 caused the team to lose their 5-0 lead. Since then, his assessment has not remained positive. Many doubt the 34-year-old, who is already dealing with injury and recuperation, can produce top-notch results in high-stakes games.
Per source, the Yankees’ deadline on the Gerrit Cole decision is now Monday 5pm ET, coinciding with the end of MLB’s “quiet period.” New York has to decide whether to add a 5th year at $36M to the four years/$144M he had remaining on his deal or allow him to become a free agent.
— Mark Feinsand (@Feinsand) November 3, 2024
Cole has four years and $144 million left in his 9-year $324 million contract with the NY Yankees. He had signed the contract in December 2019. This year, the pitcher had an elbow injury and could not start before June due to nerve irritation and edema.
If I'm the #Yankees, I sign Blake Snell & Corbin Burnes – both younger than Gerrit Cole, and let Mr. too cool to cover first walk. They'll be much better, and younger, for it. Let another team overspend on his entitled arm.
— Mat Germain (@Mat_Germain_) November 3, 2024
Despite the injury, he performed like an ace in October. He held out the now-World Series Champions, the Los Angeles Dodgers, to one earned run and 8 hits in 12 ⅔ innings. However, many argue that he has lost the velocity and swing he once had, which may pose a question to the Yankees’ decision-making.
NY Yankees faced with challenges as star players test free agency
Gerrit Cole is not the only one testing 2024 free agency. The team has to re-sign or let star players like Juan Soto, Anthony Rizzo, Gleyber Torres, and Alex Verdugo walk out.
Juan Soto is the one name that currently resounds the most in the free agency bidding war. Soto is the highest prospect many teams are looking out for, but his asking price might lead many to back off.
According to reports, the starting contract to gain Soto is expected above $500 million. His AAV can reportedly be well above Shohei Ohtani’s starting with $50 million. However, nothing is cemented yet. The frontrunners in the race are – the Yankees, the New York Mets, and possibly the Los Angeles Dodgers.
With free agency beginning Monday, here's a look at the top players on the open market ?
— FOX Sports: MLB (@MLBONFOX) November 1, 2024
?️ @RowanKavner's full rankings and teams they might sign with here: https://t.co/XcH1C7Kw3m pic.twitter.com/CF2sCRt7f8
Among others, it is reported that Gleyber Torres may sign with NY’s arch-nemesis, the Boston Red Sox. However, none of the rumors have been confirmed yet. Rizzo became a free agent on Saturday, but the Yankees declined his $17 million team option.
The free agency will be an important turnover for all the teams, with the spotlight still remaining on Juan Soto. During the press conference after Game 5 of the World Series, he noted that he’ll be available for all 30 MLB teams. Which team ends up getting the star outfielder is yet to be seen.
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Kaushani Chatterjee
(2140 Articles Published)