August 4, 2021

Yankees Announce Gerrit Cole Signing, Designate Chance Adams (MLB Trade Rumors)

As expected, the Yankees have formally announced their blockbuster deal with free agent starter Gerrit Cole. Fellow right-hander Chance Adams was designated for assignment to create roster space.

A newly clean-shaven Cole is set to be introduced at a press conference today. The club has not confirmed the financial details of the arrangement — it’s reported to come with an eye-popping $324MM guarantee — but did announce the nine-year term of the deal and the post-2024 opt-out opportunity.

As for Adams, 25, he has been with the Yankees organization since he was selected in the fifth round of the 2015 draft. He struggled in his early MLB opportunities, allowing thirty earned runs in just 33 frames over the past two seasons. Adams has spent most of the past three campaigns at the Triple-A level, where he owns a 4.04 ERA with 8.6 K/9 and 4.0 BB/9.

Read “Yankees Announce Gerrit Cole Signing, Designate Chance Adams” at MLB Trade Rumors