July 26, 2021

Gerrit Cole Signs Nine-Year, $324 Million Deal With Yankees (FanGraphs)

As first reported by Jon Heyman of MLB Network, the New York Yankees have signed Gerrit Cole to a nine-year, $324 million contract. That’s $36 million per season, making it both the most money and the highest average annual value a pitcher has ever earned, eclipsing the $35 million AAV contract Stephen Strasburg inked yesterday.

Cole’s deal fits a pattern we’ve seen this offseason where free agents — particularly big ticket signees — have earned more money than we anticipated at the outset of the winter. As has been the case for most contracts signed by players on our Top 50 Free Agents list, Cole signed for both more years and more money than we projected. Kiley McDaniel forecast that he’d sign a seven-year deal for $242 million ($34.5 million AAV), while our crowdsourcing effort estimated seven years and $224 million ($32 million AAV).

If any pitcher could command that kind of deal, it’s Cole, who is the consensus best pitcher in baseball. Though he narrowly lost out on the Cy Young to former teammate Justin Verlander, the 29-year-old’s dominant performance down the stretch and in October established him as a unique force to be reckoned with throughout…

Read “Gerrit Cole Signs Nine-Year, $324 Million Deal With Yankees” at FanGraphs