Shortly after failing to cover first base in Game 5 of the World Series against the Dodgers, Cole opted out of what was remaining of the nine-year, $324 million deal he signed in December 2019. Cole presented the Yankees with the option to add a year to the deal worth $36 million or he would become a free agent.

Gerrit Cole says he always intended to remain with the New York Yankees. The 34-year-old right-hander exercised his right to opt out of his contract on the third day after the World Series, giving up

While Cole praised his fellow Boras Corp. client, he also spoke highly of the Yankees' offseason moves following Soto's departure.