Jerome Miron-USA TODAY Sports

The New York Yankees need to go back to the drawing board. 

New York got some devastating news this week after Gerrit Cole underwent an MRI on his throwing elbow. At this point, it's unclear exactly what the issue is, but it seems like he avoided the worst-case scenario. 

It's been reported that he may only miss one or two months, but he still is going for additional opinions.

While missing one or two months seems like the most likely option, there still is a possibility for more time. He even could end up missing a "significant period," according to ESPN's Buster Olney.

"As the New York Yankees await news on the severity of Gerrit Cole's elbow issue, the reality of the calendar is this: He will be unavailable for a potentially significant period of time, and they are going to need to identify someone to pitch the games he cannot," Olney said. "For a team with a payroll that is in the $300 million range, the options probably are narrower than you'd assume."

If he were to miss more than a month or two, the Yankees would have a real problem on their hands. New York already has question marks in the starting rotation and losing its best pitcher just makes things worse. 

The Yankees still are loaded with talent and likely will be able to be okay for the beginning of the season, but if Cole is going to miss any more time than a month or two, an addition would be a necessity

New York has some tough decisions to make. 

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