Right-hander Gerrit Cole will return to the Yankees, per Jon Heyman of The New York Post on X. Going into 2020, Cole and the Yankees signed a nine-year deal with a $36MM salary in each season, a $324MM guarantee. That deal gave Cole the ability to opt out after 2024, but the Yankees could negate that opt-out by adding yet another $36MM season for 2029. He did indeed trigger that opt-out a few days ago, forcing the Yankees to decide whether or not they wanted to add the extra year. Essentially, they would be deciding between letting Cole become a free agent versus keeping him around for five years and $180MM. Per Jeff Passan of ESPN on X, Cole will remain with the four guaranteed years and $144MM as though he did not trigger his opt-out, but extension conversations will continue.
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