The New York Yankees are battling tooth and nail in a grueling 2026 American League East race. But as they try to catch up to the division-leading Tampa Bay Rays, the front office is being forced to look at a harsh reality: their ace, Gerrit Cole, is struggling to find his rhythm.
While a player going through a rough patch is nothing new in baseball, the anxiety in the Bronx stems from the massive financial commitment still tied to him. When the 2026 season officially comes to a close, the Yankees will still owe Cole well over $100 million.
The $108 Million Elephant in the Room
When Gerrit Cole signed his blockbuster nine-year, $324 million contract, he was meant to be the undisputed anchor of the Yankees’ rotation for a decade. But injuries and time wait for no one. After missing the entire 2025 season recovering from Tommy John surgery, the 35-year-old veteran is finally back on the mound—but he hasn’t looked like the dominant, shutdown machine fans are used to.
Because his contract effectively runs through the 2029 season, the future math gets pretty intimidating. Cole is set to make $36 million a year in 2027, 2028, and 2029. That is a guaranteed $108 million remaining on the books after this current season wraps up. For a pitcher trying to find his mechanics and velocity post-surgery, that number feels like a heavy anchor for the franchise’s payroll.
A Frustrating Return to the Mound
Cole’s 2026 campaign has been a grind. Through his first nine starts of the season, he has posted a 3-4 record with a 4.04 ERA over 49 innings pitched. While a 4.04 ERA might be acceptable for a middle-of-the-rotation arm, it falls well short of the standard set by a guy making $36 million a year.
His ongoing struggles were on full display during a crucial matchup against the division rival Rays on July 8. In a deflating 3-0 shutout loss, Cole labored through 6.1 innings, giving up seven hits and three earned runs while taking the loss. He struck out six batters, but he clearly lacked the electric, late-inning stamina that made him a perennial Cy Young contender.
Can the Yankees Afford to Wait?
Right now, the Yankees are sitting at 50-42, firmly in second place in the AL East but trailing Tampa Bay. If they want to close that gap and make a deep playoff run this October, they desperately need the vintage version of Gerrit Cole.
The harsh truth is that New York has virtually no financial flexibility with this deal. You can’t simply bench a $36 million pitcher, and trading a massive post-surgery contract is practically impossible without the Yankees eating a massive chunk of the remaining salary.
Manager Aaron Boone and the coaching staff are holding out hope that Cole just needs more reps to knock off the rust. Recovery from Tommy John surgery is notoriously non-linear, and it is entirely possible that Cole could return to elite form by the end of the summer. But if he doesn’t, that $108 million owed over the next three years is going to be a massive roadblock for a franchise that expects to win a World Series every single year.
Yashpal Singh brings readers closer to the action with coverage of sports news, game updates, athlete stories, team developments, and major moments from the field. From local matchups to broader sports headlines, his reporting focuses on the stories fans care about most.