The Yankees have splurged on the top free agent available this offseason: Gerrit Cole.
New York on Tuesday night agreed to a nine-year, $324 million deal with the ace right-hander, as first reported by Jon Heyman and later confirmed by others. Ken Rosenthal reported there a player option after the fifth year of Cole’s contract.
Breaking: Gerrit Cole to Yankees. 9 years. 36M per. 324M total.
— Jon Heyman (@JonHeyman) December 11, 2019
Cole, the 2019 Cy Young runner-up, just turned 29 and will presumably spend the remainder of his career (or close to it) in pinstripes. He is the biggest name starting pitcher acquisition for the Yankees since they signed C.C. Sabathia more than a decade ago, and a signal of intent from a team to this point unable to get over the hump with its current core.
MORE: Astros could move Carlos Correa
The Angels were thought to be one of the main bidders for Cole and will now need to turn their attention elsewhere. Similarly coveted Stephen Strasburg re-signed with the Nationals earlier this week, further depleting the top-end pitching market. The Dodgers are also reportedly on the hunt for rotation help.
Cole carries a 3.22 career ERA and has gotten better in his late-20s, striking out more than 12 batters per nine innings over his past two campaigns.