2023 Cy Young Winner to Return to Yankees
Before the 2020 season, Gerrit Cole signed a nine-year contract with the New York Yankees worth $324 million. The deal included an opt-out after the 2024 season, which Cole exercised a couple of days ago after the World Series concluded. Jeff Passan just reported that Cole will be returning to the Yankees on the same deal that was set in place after the opt-out. The deal is for four years and is worth $144 million, but extension talks will continue to take place between Cole and the Yankees.
Yankees fans can finally breathe a sigh of relief. Gerrit Cole had the opt-out option, but it was considered unlikely he would, as he is currently one of the highest-paid pitchers in the league for his childhood team. However, on November 2, Cole opted out of his contract, making him a free agent. It only took a few days for the 2023 Cy Young winner and Yankees ace to return to New York. Had Cole stayed in free agency, the Yankees could have possibly lost two of their three biggest players.
Cole has been nothing short of outstanding for the Yankees since he signed his nine-year contract. From 2020-2023, Cole finished top ten in the Cy Young standings and won the award in 2023. In 2024, after starting the season off on the injured list, Cole still found a way to bounce back and produce for the Yankees. He had a 3.41 ERA and a 1.126 WHIP in 95 innings. However, it was the playoffs where Cole really shined. In the 2024 playoffs, Cole started five games and posted a 2.17 ERA with a 1.28 WHIP in 29 innings. In the World Series, he gave two extremely strong starts, and if it had not been for errors and the bullpen arms behind him, the Yankees would have won both of those games. Cole returning to the Yankees will hopefully jumpstart a busy offseason for them. They are one of the favorites to sign Juan Soto and have a shaky bullpen they need to address. Gleyber Torres and Alex Verdugo, who were both starters, will also be free agents. However, having an ace on the staff like Cole is likely to help attract more free agents.
