Gerrit Cole gave up his opt-out right and will remain with the New York Yankees under a contract that runs through 2028 rather than become a free agent. New York’s ace initially exercised his right to terminate the $324 million,

Gerrit Cole will remain with the New York Yankees on his current deal, but discussions will continue on a contract extension.

On Saturday the Yankees declined their 2025 club option on Rizzo, who becomes a free agent. The Yankees essentially decided he was not worth $11 million; he could have been brought back for $17 million and was bought out for $6 million.