Gerrit Cole landing spots: 3 potential teams for 6x All-Star, Cy Young winner after reported contract opt-out

New York Yankees ace Gerrit Cole has decided to opt out of his current contract, according to a report by ESPN on Saturday. Cole's current deal still has four years at $144 million remaining on it.

The Yankees can void the opt-out by adding one year and $36 million to Cole's existing deal. Per ESPN, the Yankees have until Sunday night to invalidate Cole's opt-out.

The expectation is that the Yankees will do so, but if they don't, then Cole becomes a free agent.

Following a disappointing loss to the Los Angeles Dodgers in the World Series, the organization has already decided against exercising their club option on first baseman Anthony Rizzo.

After Cole's opt-out, where could he end up? Here are three potential teams that may prove to be a good fit for the ace:

3 potential landing spots for Gerrit Cole after opt-out

3) Atlanta Braves

After missing out on the NL East division title for the first time since 2018 and going out with a whimper against the San Diego Padres in the wild card playoff series, the Atlanta Braves will no doubt be looking to make serious improvements to their roster for the 2025 season.

Starting pitcher Max Fried is rumored to be on the way out, and bringing in Gerrit Cole to join their rotation with Chris Sale may make the Braves one of the best pitching units in the big leagues.

2) Boston Red Sox

With the rivalry between the Yankees and the Red Sox, this will be a controversial switch if it does eventually go through. From a purely sporting point of view, though, it does make sense for the Red Sox to target improvements for their pitching staff, and one would be hard-pressed to find a free agent better than Gerrit Cole to fit that requirement.

Though Boston has a very exciting offense, the pitching department simply gave up too many runs in the 2024 season, as the Red Sox eventually missed out on a playoff spot. Bringing in Gerrit Cole as the ace of their pitching staff may prove to be a great piece of business if it does materialize.

Gerrit Cole in action against the Los Angeles Dodgers during the 2024 World Series - Source: Getty

1) New York Yankees

When Gerrit Cole signed his nine-year, $324 million deal with the Yankees prior to the 2020 season, it included a clause allowing him to opt out midway through the deal. The clause was intentionally added so that Cole would be able to extract improved value from his contract if he was pitching at a good level in 2024.

Now, we have arrived at that juncture, and Cole has chosen to avail that option. The Yankees still hold all the cards in the situation and have the option to keep Cole in the Bronx if they add an extra year and an extra $36 million to the existing agreement.

Ending the season on a hugely disappointing note, it is tough to see the Yankees let arguably their best pitcher go elsewhere, and that's why an extension seems to be the most likely course of action.