After experiencing a tough loss in the World Series, the New York Yankees are beginning to shake things up. The team announced on Saturday that they have chosen not to exercise the 2025 option for first baseman Anthony Rizzo.
Rizzo, who is 35 years old, signed a two-year, $34 million contract with the Yankees back in 2022, which included a $17 million option for 2025 or a $6 million buyout. With the decision to decline the option, Rizzo is now a free agent.
In addition to this, there are reports that pitcher Gerrit Cole has opted out of his contract. Cole signed a massive nine-year, $324 million deal in 2019 to bring him to New York through 2028. The Yankees have the opportunity to void the opt-out by extending the contract, offering Cole an additional $36 million on top of the $144 million he was set to earn over the next four seasons. The team has until 5 p.m. ET on Monday to make a decision on restructuring the deal.
Both Rizzo and Cole were involved in crucial mistakes during the fifth inning of World Series Game 5, where the Yankees surrendered a five-run lead. Rizzo had previously missed the divisional round due to a finger injury but returned for the ALCS, where he had mixed results.
Rizzo’s recent seasons have been plagued by injuries, including missing games in 2024 due to a fractured forearm and dealing with complications from a concussion in 2023. Cole, on the other hand, struggled with nerve inflammation at the start of the 2024 season but still managed to put up solid numbers.
These changes signal the beginning of what is expected to be a busy offseason for the Yankees as they regroup after their World Series defeat. The team has already made some moves, such as exercising an option for reliever Luke Weaver, but key players like Juan Soto, Gleyber Torres, Alex Verdugo, and Lou Trivino are still uncertainties. The Yankees will need to navigate their free agency decisions carefully to strengthen their roster for the upcoming season.