Insider Predicts Yankees Ace Gerrit Cole's Opt-Out Decision

An MLB insider predicted what might occur with Yankees ace Gerrit Cole's looming opt-out decision.

Sep 2, 2024; Arlington, Texas, USA; New York Yankees starting pitcher Gerrit Cole (45) pitches against the Texas Rangers during the first inning at Globe Life Field. Mandatory Credit: Jerome Miron-Imagn Images / Jerome Miron-Imagn Images

While the New York Yankees' main offseason focus will be on superstar outfielder Juan Soto, who is set to become a free agent, the team's ace has an important decision on the horizon as well.

To opt-out or not to opt-out, that is the question.

Reigning 2023 AL Cy Young award winner Gerrit Cole can opt-out of his nine-year, $324 million deal this winter. Cole has four-years, $144 million remaining on his contract, but if he opts out, the Yankees can opt-in by adding an extra year at $36 million.

Earlier in the week, MLB insider Jon Heyman appeared on Bleacher Report's live stream and predicted what Cole might do.

"I think the likely scenario is that he opts out," Heyman said. "The Yankees (will) give him that extra year, which they can do."

It makes a ton of sense for Cole to exercise the opt-out in his contract. Should he wind up doing so, and the Yankees buy-in, it would increase Cole's deal to five-years, $180 million. This would make Cole a Yankee through his age 39 season.

Cole has provided a major impact for the Yankees since signing his mega deal with the team prior to the 2020 season. The 34-year-old has gone 57-27 with a 3.11 ERA, 0.98 WHIP and 901 strikeouts across 122 starts and 739 innings in pinstripes.

The right-hander missed the first two and a half months of the 2024 campaign due to an elbow issue, but he returned on June 19 and now looks back to his old self.

Although he has been limited to 14 starts (75 innings) this year, Cole has posted a 6-4 record, 3.36 ERA, 1.24 WHIP and 85 strikeouts. In his last seven starts (40 innings), Cole has produced a sparkling 1.58 ERA.

If the Yankees make a deep run in October, Cole pitching like a Cy Young winner will be a big reason why. The same can be said beyond this season, which is why it's difficult to envision New York not adding an extra year to Cole's deal if he opts out.