Gerrit Cole, Yankees Agree to Massive $324 Million Deal

Ryan Phillips
Gerrit Cole, Houston Astros
Gerrit Cole, Houston Astros / Tim Warner/Getty Images

Gerrit Cole has agreed to a massive contract with the New York Yankees. The ace right-hander will head to the Bronx on an incredible nine-year, $324 million deal. The contract will average $36 million a year.

MLB Network's Jon Heyman was first with the news:

Cole will land with the Yankees more than 10 years after they selected him with the 28th pick in the 2008 MLB Draft out of Orange Lutheran High School in Los Angeles. Cole turned down a $4 million deal and opted to go to UCLA, where he was part of a rotation with fellow future first-round pick Trevor Bauer.

After a fantastic collegiate career, the Pittsburgh Pirates selected Cole with the top pick in the 2011 MLB Draft. He spent five solid but not spectacular years with the Pirates and was traded to the Houston Astros in January of 2018.

After arriving in Houston, Cole became a star. That culminated in an amazing 2019 campaign when he went 20-5 with a 2.50 ERA, a 0.89 WHIP and 326 strikeouts in 212.1 innings.

The Yankees have added a bonafide ace who is still just 29 and has plenty of good years left. It's a huge addition for a franchise that was out to make a splash this offseason.