Yankees Rumors: 'Strong Expectation' Gerrit Cole Will Opt Out of Contract, Enter FA

Gerrit Cole and the New York Yankees may play a game of contract chicken this offseason, as the veteran ace can opt out—but the team has a remedy for such an action.

ESPN's Jeff Passan reported the following:

"Back from an elbow injury and pitching well, Cole also figures into this winter's free agency with a strong expectation that he will opt out of the final four years and $144 million of his nine-year, $324 million contract with the New York Yankees. But any fear that Cole will find greater riches elsewhere can be allayed simply: If he chooses to opt out, the Yankees can nullify it by adding a 10th year at $36 million onto his original deal."

Cole, who will turn 34 on Sept. 8, has made just 11 starts this season after dealing with a right elbow issue earlier in the year. He's been solid, going 5-2 with a 3.72 ERA, 1.32 WHIP and 62 strikeouts in 58 innings, though he hasn't had the elite stuff that won him the AL Cy Young award last season.

Still, if he did hit the open market, there's no doubt that plenty of teams would come calling. That would leave the Yankees in an interesting situation—do they risk losing him in free agency, or do they tack on an extra year at $36 million, which would take Cole into his age-39 season?

The Yankees also risk losing Juan Soto in free agency this winter and will have to shell out an enormous amount of cash to keep the 25-year-old, who may seek money in the Shohei Ohtani realm. And the Yankees already have Aaron Judge on the payroll at a massive number, given his nine-year, $360 million deal.

The Bronx Bombers have never been shy about having a huge payroll in the past, but keeping the trio of Judge, Soto and Cole in New York could end up becoming astronomically expensive. That leaves the Yankees as one of the more fascinating teams to monitor this offseason, especially if Cole indeed opts out.