NEW York Yankees ace Gerrit Cole has opted out of his contract with the team.
After losing to the Los Angeles Dodgers in the World Series, the Yankees are now at risk of losing one of their best players.
Cole had four years remaining on his contract but exercised an opt-out to enter free agency.
While Cole is technically off the team, the Yankees have the first chance to bring him back to the team.
The Yankees have the opportunity to negate Cole’s option by adding an extra year to his deal.
That extra year would cost them $36 million as the fifth year remaining on his deal.
The Yankees have until Sunday night to decide whether or not they want to extend Cole’s contract.
Cole is one of the best pitchers in baseball, coming off of a Cy Young year in 2023.
However, he had a critical error in the Game 5 of the World Series that was part of the reasoning for their loss.
Cole neglected to cover first base on a ground ball, causing the runner to reach safely and allow the inning to continue.
“I just didn’t know how hard he hit it and by the time the ball got by me, I was not in a position to cover first,” Cole said.
“Neither of us were based on the spin of the baseball and [Rizzo] having to secure it.
“Just a bad read off the bat.”
Despite his crucial error, the Yankees are expected to keep Cole around regardless of the price tag.
He has been their best pitcher for the last five years, and fans would likely be thrilled to have their ace around for an extra year.
It would certainly be a shock if the Yankees decided to let Cole test free agency.
MLB All-Star starters 2024
American League
C: Adley Rutschman (Baltimore Orioles)
1B: Vladimir Guerrero Jr. (Toronto Blue Jays)
2B: Marcus Semien (Texas Rangers)
3B: José Ramírez (Cleveland Guardians)
SS: Gunnar Henderson (Baltimore Orioles)
OF: Aaron Judge (New York Yankees)
OF: Steven Kwan (Cleveland Guardians)
OF: Juan Soto (New York Yankees)
DH: Yordan Alvarez (Houston Astros)
National League
C: William Contreras (Milwaukee Brewers)
1B: Bryce Harper (Philadelphia Phillies)
2B: Ketel Marte (Arizona Diamondbacks)
3B: Alec Bohm (Philadelphia Phillies)
SS: Trea Turner (Philadelphia Phillies)
OF: Jurickson Profar (San Diego Padres)
OF: Teoscar Hernández (Los Angeles Dodgers)
OF: Christian Yelich (Milwaukee Brewers)
DH: Shohei Ohtani (Los Angeles Dodgers)
What may be more of a toss-up is the free agency of superstar Juan Soto.
Soto is expected to get a deal upwards of $600 million and nearly every team is thought to be interested in his services.
The Yankees are one of the favorites to retain Soto, but the New York Mets and Dodgers are expected to make a strong push.
New York has other big names leaving the team such as first baseman Anthony Rizzo, second baseman Gleyber Torres, and outfielder Alex Verdugo.
