The New York Yankees know that losing Gerrit Cole would be a serious risk; he played a key role in helping the team make a deep postseason run. Despite missing time in 2024 due to injury, he remains a highly valuable pitcher, making an agreement essential.
According to Jeff Passan, the Yankees have reportedly reached an agreement with Cole that maintains the terms of his original 2020 contract, keeping him under the same conditions with $144 million left to be paid. The team did not agree to the extra year Cole had requested.
Gerrit Cole opted out and reportedly requested an additional $36 million along with a one-year extension to his contract. It’s worth noting that Cole remains one of the top-paid starting pitchers, currently holding the fourth spot among the highest earners at his position.
The good news for Cole is that the Yankees are expected to continue discussions about a possible extension, which could be announced by the end of November. Meanwhile, several of Cole’s teammates recently entered free agency, waiting to see if the Yankees will bring them back.
Gerrit Cole’s Contract with the Yankees
Cole signed with the Yankees in 2020, with a contract that extends through 2028. Over his five seasons in pinstripes, he has earned $157.33 million out of his $324 million contract total.
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Top Contracts on the Yankees
Only three Yankees players have contracts valued above $300 million. Cole is one of them, with Giancarlo Stanton’s contract ranked second at $325 million, which also spans a team-high 13 years and ends in 2027. Aaron Judge holds the top contract among the Yankees at $360 million.
