SAN DIEGO -- Gerrit Cole went to the MLB Winter Meetings searching for the largest contract ever for a pitcher, and he got it.
The former Pirates pitcher came to terms on a 9-year, $324-million deal with the Yankees Tuesday night. Jon Heyman was the first to report the deal.
Breaking: Gerrit Cole to Yankees. 9 years. 36M per. 324M total.
— Jon Heyman (@JonHeyman) December 11, 2019
According to Joel Sherman, Cole can opt out of his deal after five years.
Cole can opt out after five years of this nine-year deal #yankees
— Joel Sherman (@Joelsherman1) December 11, 2019
He will average $36 million over the course of the contract, the highest in baseball history.
In terms of total dollars, it is the fourth richest contract in baseball history, topped only by Mike Trout's 12-year, $420-million deal, Bryce Harper's 13/$330 million and Giancarlo Stanton's 13/$325 million.
In a media session Tuesday, Cole's agent, Scott Boras, said, "It's probable something could be done in the very short term."
Boras said then the bidding was between the Yankees, Angels, Dodgers and two mystery teams.
The Yankees had to up their offer after Stephen Strasburg, also a Boras client, signed a 7-year, $245-million deal Monday.
Cole was drafted by the Pirates with the No. 1 overall pick in the 2011 draft and signed for a record $8-million bonus. He pitched with the Pirates from 2013-2017 before being traded to the Astros prior to the 2018 season for a package of Joe Musgrove, Colin Moran, Michael Feliz and Jason Martin.
While Cole was an All-Star and Cy Young contender with the Pirates in 2015, he underachieved during most of his tenure in Pittsburgh. He emerged as one of the very best pitchers in the game after moving to the Astros and finished second for the 2019 Cy Young after going 20-5 with a 2.50 ERA.
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