The New York Yankees have a $180 million decision on their hands after ace Gerrit Cole exercised his opt-out clause Saturday morning – and they have precious little time to make it.
The Yankees must inform Cole and agent Scott Boras by Sunday night, two persons with the direct knowledge of the contract told USA TODAY Sports, on whether they will give him a one-year extension to void the opt-out or allow him to immediately become an unrestricted free agent.
The persons on the condition of anonymity because they weren’t authorized to speak publicly.
Cole has four years and $144 remaining on his original nine-year, $324 million contract, but he’s willing to walk away believing he would get more in the free-agent market.
If the Yankees give him the extra year, his contract turns into a 10-year, $360 million deal, the richest for a pitcher in baseball history.
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Cole, 34, certainly has been one of the best pitchers in baseball in his first five years of his contract, winning the Cy Young award in 2023, but he didn’t make his season debut this year until June 19 because of nerve inflammation in his elbow. He wound up making 17 starts in 2024, going 8-5 with a 3.41 ERA, striking out 99 batters in 95 innings.
He was exceptional in the postseason, yielding a 2.17 ERA in 29 innings with 22 strikeouts, and gave up just one earned run in 12 ⅓ innings in the World…
