The New York Yankees landed the biggest prize of the free agent market, adding Gerrit Cole to their rotation with a record $324 million, nine-year contract on Tuesday night, a person familiar with the deal told The Associated Press.
The person spoke on condition of anonymity because the agreement had not been announced.
Cole’s deal established marks for pitchers in total dollars, topping the $245 million, seven-year contract Stephen Strasburg finalized a day earlier to remain with the World Series champion Washington Nationals.
Its $36 million average is a record for any player, beating the $35.5 million in outfielder Mike Trout’s $426.5 million, 12-year deal with the Los Angeles Angels that started last season. Cole gets an even $36 million annually and can opt out after the 2024 season. He also has a full no-trade provision.
Agent Scott Boras negotiated the deals for Cole and Strasburg.
A 29-year-old right-hander, Cole was baseball’s most dominant pitcher for much of 2019 and helped the Houston Astros come within one win of their second World Series title in three seasons.
“Obviously, when you are talking about a player at the level of Gerrit Cole, in a lot of ways that’s a game-changing type talent,” Yankees manager Aaron Boone said earlier in the day. “This is a guy that’s really hungry, really driven.