A few days after the end of the World Series, the tectonic plates begin to shift in major league baseball.
New York Yankees ace Gerrit Cole has opted out of his contract as team management has decided not to exercise the option on Anthony Rizzo’s contract for the 2025 season.
Cole hasn’t left the Yankees yet as his decision to opt out of his contract opens the door for the Yankees to add an additional year worth 36 million to the four-year contract worth 144 million according to ESPN.
Cole, 34, was among the best pitchers in baseball during his first five years with the Yankees, winning the Cy Young Award in 2023. After an elbow injury sidelined him for two first month and a half of the 2024 season, he returned to make 17 starts, posting a 3.41 ERA and striking out 99 batters in 95 innings while allowing 29 walks and allowing 11 home runs.
His decision comes days after Cole started Game 5 of the World Series. After four hitless innings, the Los Angeles Dodgers scored five unearned runs against Cole, following two defensive errors and a mental error between Cole and first baseman Anthony Rizzo leading to a big inning.
For his part, Rizzo will become a free agent, the Yankees having refused the option of 17 million for next year. By not exercising the option, the Yankees will pay Rizzo six million dollars as a buyout. Rizzo signed a two-year, $34 million contract in November 2022.
The Yankees acquired Rizzo in a trade with the Chicago Cubs in July 2021. Rizzo had averages of .234/.326/.409 with 60 home runs during more than three injury-plagued seasons.
Jiménez becomes free agent, not Pagan
In Baltimore, the Orioles declined the $16.5 million option clause in Eloy Jiménez’s contract, meaning that the man who played as an outfielder and designated hitter can now negotiate with the team of his choice.
Jimenez, who will celebrate his 28th birthday on November 27, will receive a buyout amount of $3 million, which completes a six-year pact, worth $43 million, that he accepted when he played with the Chicago White Sox.
The Orioles acquired Jiménez on July 30 in exchange for left-handed pitcher Trey McGough. In 100 at-bats with the Orioles, Jiménez posted a .232 average with one home run and seven RBIs. He finished the season with a .238 overall average, with six home runs and 23 RBIs.
Furthermore, in Cincinnati, right-handed pitcher Emilio Pagan took advantage of the $8M option clause in his contract, so that he will remain with the Reds in 2025.
Pagan has appeared in 38 games in 2024, including 37 in a reliever role. He completed the campaign with a 4-5 record and a 4.50 ERA.
