“The grass isn’t always greener,” Yankees retain Gerrit Cole with remaining $144 million contract; declines $36 million option

Gerrit Cole will remain with the Yankees for the remainder of his 4-year $144 million contract despite the team declining the $36 million option.

“The grass isn’t always greener,” Yankees retain Gerrit Cole with remaining $144 million contract; declines $36 million option

Gerrit Cole [Image Credit: NY Post]

New York Yankees and Gerrit Cole finally patched up their breakup by remaining with the team for an existing $324 million deal. With his existing contract, Cole will receive an AAV of $36 million for the rest of his four-year remaining deal.

However, he decided to activate his opt-out clause on Saturday. His move could either have pushed the Yankees to extend an additional year with $36 million to his already $144 million remaining or test free waters. 

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The deciding date was on Sunday evening, but both parties pushed it back to Monday at 5 pm ET. Eventually, Gerrit Cole decided to stay with the Yankees rather than risk going into free agency. The team also declined to add another year and $36 million more to his contract.

According to NY Yankees executive Brian Cashman, both parties had a “healthy dialogue” to keep their relationship going. Cashman further noted that the team didn’t want to part ways with their ace, and neither did Cole want to leave.

We wanted our player and our ace back and he certainly didn’t want to go either…The one thing that was certain in the discussions is that all parties wanted to keep the relationship going.

Brian Cashman said as per Mike Puma of NY Post

Cashman further added that they can have contract extension talks later if such a situation arises. But for now, everything related to Cole will remain the same. He’ll play for the team and lead them to another Championship participation in 2025.

Gerrit Cole’s bumpy 2024 ride continues into Yankees 2025 roster plan

Ace pitcher Gerrit Cole will remain in New York, hopefully for the remainder of his career. Brian Cashman frankly spoke about how he wants him in the pinstripes “until the end of his career.” 

Gerrit Cole
Gerrit Cole [Image Credit: NY Times]

This gives the option of him either retiring with the New York Yankees after another four seasons or offering him an extension. He can also choose to sign with another team, but it is highly unlikely he’ll do so considering he completes his 9 years in the Bronx.

I think [Cole] likes our setup and playing for who he is playing for and who he is working for and I think he likes his teammates and the chance to win and sometimes the grass isn’t always greener.

Brian Cashman added

Then again, 2024 free agency would have been a risky move for the pitcher who experienced quite a bumpy ride in the regular season and post-season games. Due to injury, he could not start early in the season and debuted in mid-June.

Cashman had an extensive talk with Cole, and his agent Scott Boras on how they “weren’t comfortable” with adding another year to the remaining four-year deal. Especially considering his bump in Game 5 of the World Series which added in Yankees 6-7 loss.

Cashman further added that they would prefer not to look for another ace when they have Gerrit Cole by their side. He’s been with the team for a long and is undoubtedly a cornerstone for them along with Aaron Judge. In the postseason he pitched for a 2.17 ERA and started in 17 games.