Yankees star expected to opt out, could set $360 million record.

The New York Yankees still have decisions to make before Opening Day, including where to place newly-acquired slugger Juan Soto in the lineup and whether to add another pitcher. However, one thing seems certain: Gerrit Cole will remain the Yankees’ ace in 2024. His contract includes an opt-out after the 2024 season, which could lead to a record-breaking extension worth $360 million. While this scenario is likely, there are other possibilities to consider. Cole could choose not to opt out and become a free agent after the 2028 season, potentially earning more money on the open market. Alternatively, he could opt out and renegotiate with the Yankees on a deferred contract, allowing the team to allocate funds elsewhere. There’s also the chance that the Yankees could decline their club option, allowing Cole to explore free agency. Despite these possibilities, a successful season followed by an opt-out and club option extension remains the most probable outcome for Cole and the Yankees.