General manager Brian Cashman, manager Aaron Boone, and pitching coach Matt Blake are going to meet with Cole in California on Tuesday, reports Joel Sherman of the New York Post. Sherman adds the Yankees are also expected to meet with Strasburg on Wednesday.
The pair of Scott Boras clients represent the top two pitchers on the free-agent market this winter and are expected to eclipse the nine-figure mark. Both right-handers are attached to draft-pick compensation after rejecting their one-year, $17.8-million qualifying offers.
Rosenthal adds there is a possibility one of the pitchers sign during the winter meetings, which are set to get underway next Monday in San Diego - Strasburg's hometown. However, the Cole negotiations are likely to extend beyond the meetings and potentially into January.
Cole is coming off a campaign where he finished runner-up for American League Cy Young behind Houston Astros teammate Justin Verlander. The 29-year-old authored a 2.50 ERA over 33 starts, leading the entire major leagues with 326 strikeouts and a 185 ERA+.
Meanwhile, Strasburg opted out of the remaining four years and $100 million on his deal with the Washington Nationals. The 31-year-old posted a 3.32 ERA and 3.25 FIP over a career-high 209 innings, capping his remarkable season off by winning World Series MVP.