Yankees ace Gerrit Cole returns after brief opt-out, will remain in NY

On Saturday, Yankees ace Gerrit Cole triggered an opt-out on his nine-year, $324 million contract. He had the potential to test free agency if the Yankees did not exercise a 10th-year option for 2029 at $36 million. The two sides had until 5pm ET on Monday to negotiate.

There was much hubbub about the potential of Cole leaving the Yankees and whether or not the team thought that their No. 1 starter was worth that extra year, when he’d be 39 going on 40. After all the noise, though? Everything ended up status quo.

Jon Heyman, Jeff Passan, and others have reported that Cole will be returning to the Yankees in 2025. The extra year was not added, but instead Cole will remain on essentially a new version of the original deal, covering four years and $144 million through the 2028 campaign. Cole and the Yankees will continue negotiating on a possible extension.

This is purely good news for the Yankees, who would’ve needed to fill a serious void at the top of their rotation if Cole departed — regardless of whether or not you have any trepidation about the elbow that kept him out of commission through mid-June of 2024.

Corbin Burnes, Blake Snell, Jack Flaherty, and Max Fried are the top free agent starters available, and the Yankees would have had to bid against the rest of the market for them, all while pining for Juan Soto to return as well. No such guarantees can be found in long-term pitching contracts, and rolling the dice on a Hall of Fame-caliber talent like Cole in his mid-30s is still a safe option, particularly if New York is comfortable with his medicals. Check one key box off the offseason to-do list.