Report: Cole opts out of Yankees' contract
Published
New York Yankees starting pitcher Gerrit Cole has opted out of the remaining four years of his contract, according to multiple reports.
The Yankees can void Cole's opt-out by adding an additional year worth $36 million at the end of the deal to prevent him becoming an unrestricted free agent. The team must do so by Sunday at 5 p.m. ET.
Cole, 34, is entering the sixth year of a nine-year, $324 million deal he signed with the Yankees prior to the 2020 season.
The 6-foot-4 righty went 8-5 last season with a 3.41 earned run average. Cole appeared in five postseason games where he went 1-0 with a 2.17 ERA and 22 strikeouts.
The Newport Beach, Calif., native won the American League Cy Young Award last year after going 15-4 and winning his second AL ERA title at 2.63.
He is a six-time all-star and previously won an ERA title as a member of the Houston Astros in 2019.
Drafted first overall by the Pittsburgh Pirates in 2011, Cole has a career 153-80 record with a 3.18 ERA over 317 games split between the Pirates, Astros, and Yankees.