SAN ANTONIO — Gerrit Cole isn’t going anywhere.
The New York Yankees’ ace will remain with the club as Cole’s representatives and the Yankees take “more time to advance (contract) extension talks,” a league source told The Athletic.
Cole will receive the four years and $144 million remaining on his deal — for now — as the sides seek to work something out.
The sides had a 5 p.m. Monday deadline to work out a deal.
Now, the New York Yankees turn their full attention to their most important task of the winter: Re-signing star outfielder Juan Soto.
On Saturday, Cole exercised the opt out of the nine-year, $324-million deal he signed with the Yankees prior to the 2020 season. At the time, the Yankees could simply have voided his decision by adding a 10th year and $36 million to his deal. Instead, the Yankees and Cole’s representatives at The Boras Corporation worked over the weekend on a possible extension. The potential parameters and details of the deal aren’t currently known.
Going into the 2024 season, it seemed like a no-brainer that Cole would opt out. He was the reigning American League Cy Young Award winner and perhaps the only person with as much clout in the clubhouse and within the organization as team captain Aaron Judge.
But in spring training, Cole, 34, suffered an elbow injury that turned out to be inflammation. His ulnar collateral ligament was deemed in tact, though it was his first arm problem since 2016.
Cole didn’t return until June 19, and when he came back, it took him a while to regain form. The Yankees scratched him from a start on July 30, citing “general body fatigue.” His fastball’s average velocity dipped to 95.9 mph — down from 96.7 mph in 2023 and 97.8 mph in 2022. He finished 8-5 with a 3.41 ERA in 17 starts, and his 9.4 strikeouts per nine innings was his lowest rate since 2017.
In the playoffs, he didn’t throw more than 89 pitches in any of his appearances until Game 5 of the World Series. Cole, however, said his elbow wasn’t a problem.
Cole’s contract up to this point has been generally viewed as a success. In five seasons, he’s posted a 3.12 ERA and he made at least 30 starts each year from 2021-2023. He’s also been a team leader, meeting often alongside Judge with owner Hal Steinbrenner.
(Top photo of Cole pitching: Sarah Stier / Getty Images)
