Yankees Predicted to Let $324 Million Star Sign Elsewhere via Free Agency

Getty Gerrit Cole can exercise his opt-out clause after the World Series. Will the New York Yankees really chance losing him to a rival?

The New York Yankees are trying to fight back against the Los Angeles Dodgers after losing the first three games of their World Series matchup. But what will the 2025 roster look like? Will Gerrit Cole remain the Bombers’ ace moving forward, or is he headed elsewhere?

Cole is finishing his fifth season in pinstripes, part of a nine-year, $324 million deal. He has an opportunity to opt-out this winter. However, Spotrac notes the Yankees could void the right-hander’s player option by adding another year and $36 million to his current contract. Will general manager Brian Cashman do what’s necessary to keep his ace in the Bronx?

Bleacher Report’s Kerry Miller made eight “bold” MLB predictions for the upcoming offseason. He’s predicting Cole will exercise his opt-out clause once the World Series is over. He’s also predicting the Yankees will let him test free agency, ultimately leading to him signing with a new team.

What Kind of Contract Could Gerrit Cole Sign in Free Agency?

If Cole doesn’t opt out of his current deal, he’d be with the Yankees for another four years while making $144 million. But if he does opt-out and the Yankees void it, he’d be in the Bronx for five seasons and $180 million.

That just about mirrors Spotrac’s market-value estimate. They’re projecting five years and approximately $179 million for the right-hander.

“His projected market value is a whole heck of a lot of money, but it also feels low,” Miller said. “Cole is a few months younger (with much less of an injury history) than Jacob deGrom was two years ago when he signed his five-year, $185M deal with the Rangers. Max Scherzer was two years older than Cole when he got $43.3M per year on a three-year deal. Justin Verlander was four years older than Cole when he got the same $43.3M salary on a two-year contract.”

Miller also said a $200-plus million deal for Cole is possible if he hits the open market.

Gerrit Cole Has Been a Consistent Ace for the Yankees

Although he was limited to 95 innings (17 starts) in 2024, Cole has been a durable ace for the Yankees since joining the club in 2020.

He made all 12 of his starts during the pandemic-shortened season. That was followed by three straight years of 30-plus starts from 2021-23. Cole has racked up 759 regular-season innings with the Yankees. It’s led to a 59-28 record, 3.12 ERA, 1.03 WHIP and 915 strikeouts. His tenure has included three All-Star Game selections and four top-10 finishes in American League Cy Young Award voting (he won the award in 2023).

It will be interesting to see what Cole decides, as well as what the Yankees will do if their ace forces the front office’s hand to make a move.