Two days after he opted out on the final four seasons of a nine-year, $324-million contract, New York Yankees ace right-hander Gerrit Cole will finish out the deal after all, multiple outlets reported Monday.
Cole exercised the right to opt out of the remaining four years and $144 million on the deal Saturday. But in an about-face, he has agreed to play the next four seasons under the terms of the original deal.
The report indicated that Cole and the Yankees are discussing the potential of an extension to the deal.
Under the original deal, agreed to in December 2019, the Yankees could void Cole’s 2024 opt out by triggering an additional one year to the deal at $36 million for 2029. That piece of the agreement no longer applies.
Cole, 34, was 8-5 with a 3.41 ERA in 17 regular-season starts this past season after opening the year on the injured list with a right elbow injury. He was 1-0 with a 2.17 ERA in five postseason starts.
In the Los Angeles Dodgers’ championship-clinching Game 5 victory of the World Series on Wednesday, Cole held Los Angeles hitless through four innings. It all fell apart in a five-run fifth, with all five runs unearned against Cole. The Dodgers went on to win 7-6 and hoisted the World Series trophy at Yankee Stadium.
In five seasons with the Yankees, Cole finished fourth (2020), second (2021) and ninth (2022) in American League Cy Young Award voting before taking home the coveted honor in 2023, when he finished 15-4 with 222 strikeouts and an AL-best 2.63 ERA in 209 innings.
Over 12 seasons with the Pittsburgh Pirates (2013-17), Houston Astros (2018-19) and Yankees, the six-time All-Star is 153-80 over 317 starts (1,954 innings) with 2,251 strikeouts and 500 walks. In 22 career playoff starts, he is 11-6 with a 2.77 ERA.
