How Yankees can nullify Gerrit Cole’s ‘expected’ opt-out
After starting off the 2024 season on a less-than-ideal note (injury woes, lackluster performances relative to established standard), Gerrit Cole is rounding into form, and just in time for the New York Yankees to take a two-game lead over the Baltimore Orioles for the AL East division lead. Cole’s return to his usual dominant ways also could not have come at a better time for him, as he is increasing his value just in time for his upcoming decision of whether or not to opt out of the remaining four years and $144 million remaining on his contract.
Nonetheless, Cole’s fate, at the end of the day, remains in the Yankees’ control. The 33-year-old could, perhaps, opt to re-enter free agency in search of a better contract, but the Yankees can prevent him from reaching the open market altogether by exercising a clause in the contract that allows them to add a 10th year worth $36 million to the nine-year, $324 million deal Cole signed with the team back in 2019.
“Back from an elbow injury and pitching well, Cole also figures into this winter’s free agency with a strong expectation that he will opt out of the final four years and $144 million of his nine-year, $324 million contract with the New York Yankees. But any fear that Cole will find greater riches elsewhere can be allayed simply: If he chooses to opt out, the Yankees can nullify it by adding a 10th year at $36 million onto his original deal,” Jeff Passan of ESPN wrote.
The Yankees now have to gauge the risk-reward ratio of keeping Cole, who will be 34 years old at the beginning of 2025, at the cost of paying him nearly $40 million when he’s already 38 years of age. New York is always in the business of contending for a World Series crown, and it’s not like they have been hesitant to splash the cash in the past. But a few other more pressing areas to deal with in free agency may force them to think twice.
In particular, Juan Soto, who has been every bit as good as advertised for the Yankees after a blockbuster offseason trade, will be entering free agency soon. Soto will only be 26 years old during the 2025 season, which would make him very expensive to sign on the open market. Keeping him will be a priority, especially when he’s already been worth 7.8 WAR (per Fangraphs) in 127 games — a career-best mark.
Nevertheless, the option to keep Cole is there. The ball is now in the Yankees’ court.
Gerrit Cole is rounding into form for the Yankees
Gerrit Cole is in the middle of his best three-game stretch of the season for the Yankees. He seems to be putting the elbow injury that sidelined him to begin the year in the rearview mirror. Over his past three starts, he has allowed just one run, and in two of those games, he struck out a total of 18 batters — reminiscent of his peak form.
The month of August has been kind to Cole. He has a sterling ERA of 1.17 across 23.0 innings of work, striking out 24 batters against just nine walks. With the postseason beckoning, Cole appears to be saving his best for when it matters the most.
On the season, Cole now has an ERA of 3.72 in 58 innings (11 starts). There is reason to believe that his walk rate should go down soon and be more in line with his career numbers.
The post How Yankees can nullify Gerrit Cole’s ‘expected’ opt-out appeared first on ClutchPoints.
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