Report: Yankees can veto Cole's opt-out by adding 1 year, $36M to deal

A previously unreported wrinkle in Gerrit Cole's contract with the New York Yankees could make the right-hander even richer.

The nine-year, $324-million pact includes a player opt-out following the 2024 season, by which time Cole will have banked $180 million. Instead of completing the contract's remaining four-year, $144-million obligation, Cole can decide to test free agency.

However, the Yankees can actually veto Cole's opt-out by adding an additional year to the contract at the same $36-million salary as the preceding years, reports Ken Rosenthal of The Athletic.

By the end of the agreement, Cole could make $360 million over 10 seasons with the Yankees, with the contract ending following his age-38 season.

The 29-year-old was officially introduced to New York media Wednesday. The three-time All-Star is coming off of his strongest season to date, in which he authored an AL-leading 2.50 ERA and 2.64 FIP over 33 starts and finished as the runner-up for the Cy Young Award.