Gerrit Cole staying with Yankees on current contract; extension talks ongoing
Gerrit Cole will remain with the New York Yankees rather than become a free agent.
New York had until 5 p.m. ET to add a $36 million salary for 2029 to his contract, which had four years and $144 million remaining.
The sides were still working on a revised contract, two people familiar with the negotiations told The Associated Press. The people spoke on condition of anonymity because no announcement was made.
Cole’s $324 million, nine-year deal, agreed to before the 2020 season, gave him the right to opt out following the 2024 World Series but said the Yankees could void the opt out by adding the additional year.
A 34-year-old right-hander, Cole won the 2023 AL Cy Young Award. His 2024 season didn’t start until June 19 because of nerve irritation and edema in his right elbow. The six-time All-Star went 8-5 with a 3.41 ERA in 17 starts, then was 1-0 with a 2.17 ERA in five postseason starts.
New York’s decision gives the Yankees six potential rotation returnees, a group that includes Carlos Rodón, Clarke Schmidt, Luis Gil, Nestor Cortes and Marcus Stroman.
Reporting by The Associated Press.
[Want great stories delivered right to your inbox? Create or log in to your FOX Sports account, follow leagues, teams and players to receive a personalized newsletter daily.]
Major League Baseball
New York Yankees
Gerrit Cole
Clayton Kershaw declines $10 million option with Dodgers, becomes free agent
Dodgers star Shohei Ohtani has shoulder surgery after World Series injury
Juan Soto, Max Fried headline list of 13 MLB free agents to receive qualifying offers
Yankees GM Brian Cashman defends manager Aaron Boone from Joe Kelly criticism
Juan Soto next team odds: Yankees, Mets favored to land star outfielder
Dodgers’ Joe Kelly says World Series vs. Yankees was ‘a mismatch from the get-go’
2025 MLB free-agent rankings, team fits: Juan Soto leads top 30
World Series Winners: Complete list of champions by year
Bloop Hits: Warren Zevon and Bill Lee
Get more from Major League BaseballFollow your favorites to get information about games, news and more