"Getty Call, NYY Remain.", The existing contract is valid until 2028...Consideration of 'Aging' Extension Agreement, open for further negotiation
Nov 05, 2024
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MLB.com decided on the 5th (Korea time) 'New York ace Gerrit Cole will stay while maintaining his existing contract. The remaining contract is $114 million for four years, and he will be with the Yankees for now until 2028, according to the report.
MLB Network reporter John Heyman said on the same day that `Garrett Cole and the Yankees have agreed to continue to be together' Cole and the Yankees will continue their current agreement to discuss extending their contracts in the future. The two sides wanted to accompany each other and decided to do so.'
Cole declared FA on the 3rd by terminating his existing contract. However, if the Yankees extend their existing contract for another year at $36 million, Cole's opt-out declaration will be nullified. Cole and the Yankees set these provisions in December 2019 when they signed a nine-year, $324 million FA contract.
With Cole, who finished five seasons this year, giving up his remaining four-year, $144 million contract and opting out, he canceled his FA plan and returned to the Yankees. It remains to be seen whether the contract will be extended to 2029 with $36 million for one year according to the existing provisions.
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In the end, the Yankees lost 6-7, kneeling with a series record of 1-4, and giving up supremacy to the Dodgers.
Cole pitched 759 innings in 125 appearances in five years with the Yankees, marking a 59-28 record, 3.12 ERA and 1.025 WHIP. Last year, he pitched 209 innings in 33 games, winning 15-4 with a 2.63 ERA and 222 strikeouts, winning his first Cy Young Award. There is no denying that he is the ace.
This season, he joined the rotation only in mid-June due to an elbow injury, but he played his part with an 8-5 record and a 3.41 ERA in 17 games. In five postseason games, he pitched well with one win and a 2.17 ERA.
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In addition, the FA market is full of starting pitchers that the Yankees can aim for, including Blake Snell, Max Fried and Jack Fleherty. In particular, the Yankees actively negotiated with Snell last winter, and in the case of Fleherty, there were talks with the Detroit Tigers during the trade deadline last summer.
The Yankees, who were considering an extension contract with Cole, bought time by agreeing to stay for now. The Yankees are now planning to start negotiating the renewal of their contract with Juan Soto, the biggest FA in history.
jhno@sportschosun.com
