Yankees Expected to Opt in to Gerrit Cole's Deal, Per Insider

The New York Yankees are reportedly expected to opt in to Gerrit Cole's deal to keep the ace from hitting free agency.

Oct 30, 2024; New York, New York, USA; New York Yankees pitcher Gerrit Cole (45) throws during the fourth inning against the Los Angeles Dodgers in game five of the 2024 MLB World Series at Yankee Stadium. Mandatory Credit: Vincent Carchietta-Imagn Images / Vincent Carchietta-Imagn Images

It doesn't sound like he's going anywhere.

On Saturday, New York Yankees ace Gerrit Cole opted out of his contract with the team, as ESPN's Kiley McDaniel and Jeff Passan first reported.

Cole had four-years, $144 million remaining on his deal, which the Yankees can add one-year for $36 million to in order to keep their Cy Young winner off the free agent market.

And the belief is that this is the route the Yankees will take with Cole.

According to MLB insider Jim Bowden, the expectation is that the Yankees will void Cole's opt-out by adding that extra year at $36 million onto the contract. This would keep Cole in The Bronx through the 2029 season.

New York has until Monday night at 5 p.m. ET to make their decision on Cole, per Mark Feinsand of MLB.com. If they do not opt-in, Cole would become a free agent.

Prior to the 2020 season, Cole signed a then-record contract for a starting pitcher when the Yankees inked him to a nine-year, $324 million deal.

In five seasons with the Yankees, Cole has a 59-28 record and 3.12 ERA in 759 innings (125 starts). The righty won the AL Cy Young award in 2023 after posting a 15-4 record, 2.63 ERA, 0.98 WHIP and 222 strikeouts in 209 innings.

Cole missed the first three months of the 2024 campaign with an elbow issue, but returned to put up solid numbers with a 8-5 record, 3.41 ERA and 99 strikeouts in 95 innings and 17 starts. He also had a strong October, posting a 2.17 ERA in five postseason starts.

Cole will turn 35 in September of next season. Should the Yankees surprisingly change course and not void his opt-out, elite starters such as Blake Snell, Max Fried and Corbin Burnes will all be on the free agency market as potential replacements.

But it appears that Cole will be staying put.