Oct 25, 2024; Los Angeles, California, USA; New York Yankees general manager Brian Cashman before game one against the Los Angeles Dodgers the 2024 MLB World Series at Dodger Stadium. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images Jayne Kamin-Oncea-Imagn Images

Yankees Gerrit Cole Decision Resurfaces With Major AL East Move

Originally posted on New York Yankees on SI
By Michael Rosenstein | Last updated Aug 22, 2025 11:17 AM ET

The New York Yankees have a good track record of signing international free agents who develop into big-time MLB prospects. This is the story about the one that got away.

It begins with the breaking news reported by ESPN's Jeff Passan : "Catcher Samuel Basallo and the Baltimore Orioles are finalizing an eight-year, $ 67 million contract extension, sources tell ESPN. Basallo, who just turned 21, is one of the best prospects in baseball, and less than a week after being called up, he has a long-term deal."

Big deal, you may say. Aside from playing in the same division, why should the Yankees care about what the Orioles' front office is doing? ESPN's Kiley McDaniel fills in the blanks.

"The Yankees had a deal with Basallo as an amateur before he was eligible to sign in January 2021," McDaniel posted on X.

"Then, the Yankees signed Gerrit Cole as a free agent. That cost them $1M in international pool money for the 2021 class.

"Basallo was cut loose and signed with Baltimore for $1.3M," McDaniel added.

Passan followed up on his colleague's observation with the follwing note: "This illustrates how the cost of signing free agents can go beyond the money given to players. Yankees sign Cole, lose Basallo and the Orioles wind up with a core player locked up."

Dave Nelson-Imagn Images

Of course, it's hard to argue that the Yankees made the wrong move in signing Cole. New York gave the right-hander a record-setting nine-year, $324 million contract in December 2019.

Cole lived up to the deal, winning the American League Cy Young Award in 2023 and helping the Yankees reach the World Series last season.

The 2025 campaign is one to forget for Cole, who's missing the season while recovering from Tommy John surgery.

But if Cole can return next year to the form which led to him being a top-10 Cy Young Award candidate seven times, the Yankees could have the best starting rotation in baseball.

Without Cole and Clarke Schmidt (also out with Tommy John surgery), New York is relying on Max Fried, Carlos Rodon, Luis Gil and Cam Schlittler. Add a fully-recovered Cole and the Yankees could have the makings of a legitimate title contender.

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