Gerrit Cole and Yankees Agree to 9-Year, $324 Million Deal.
Cole's contract surpasses the deal Stephen Strasburg signed with the Nationals on Monday.
For the most total money and average annual salary for a pitcher at $36 million.
Cole had a 20-5 record in 2019 and finished second in the AL Cy Young Award to teammate Justin Verlander.
Cole won his final 16 regular-season decisions, led MLB with 326 strikeouts and led the AL with a 2.50 ERA.
The right-hander's only loss after May 22 came in Game 1 of the World Series to the Washington Nationals.
Cole went 4-1 with a 1.72 ERA in the 2019 postseason.
The Yankees have not won the World Series since 2009 and are hoping Cole will be the missing link.
The Los Angeles Dodgers and Los Angeles Angels were both involved in pursuing Cole in free agency