The Yankees officially announced that which was unofficially announced over a week ago at the Winter Meetings: they have signed Gerrit Cole to a nine-year, $324 million contract.
The contract carries no deferred money. It includes a full no-trade clause and a player opt-out for after the 2024 season. To make room for Cole on the roster the Yankees designated righty Chance Adams for assignment. Fun fact: the Yankees didn’t land Cole in a trade during the 2017-18 offseason in part because the Pirates demanded Adams and the Yankees wouldn’t agree to it. Life is weird.
Yankees general manager Brian Cashman called Cole his “white whale” while he was in pursuit but, unlike Ahab, Cashman got what he was hunting for.
Cole is being introduced at a press conference in New York as we speak:
— New York Yankees (@Yankees) December 18, 2019