The New York Yankees have seen some intense ups and downs since the 2024 World Series and the season hasn’t even opened yet.
After losing Juan Soto to the New York Mets, then adding star veterans like Max Fried, Cody Bellinger and Paul Goldschmidt, the Yankees have seen a trio of key players ruled out for Opening Day with a range of injuries. Luis Gil, Giancarlo Stanton and now Gerrit Cole will be sidelined for extended periods.
The Cole injury, which will require Tommy John surgery, is the biggest blow yet. The Yankees now face some real questions about the depth of their starting rotation and could be forced to seek a replacement in the near future.
Already facing a $277 million payroll for 2025 and with thin prospect depth, the Yankees seem unlikely to pull off a blockbuster move for a new frontline starter. But ESPN’s Buster Olney noted that they could leverage an insurance payout on Cole’s salary to add a veteran hurler soon.
“Just as the Yankees continue to weigh market options for hitting help while Giancarlo Stanton is attempting to work his way back from elbow trouble, they will consider free agent possibilities such as veteran right-hander Kyle Gibson,” Olney wrote. “The Yankees paid for insurance on Cole’s contract, and so they will recoup some portion of the salary they owe him; typically, that rate is about 75%.”
Cole is owed $36 million for 2025, so the Yankees could be in line for a $27 million insurance recoup. That would fit nicely with the two-year, $26.8 million contract projection Gibson has seen from Spotrac. And, perhaps more importantly, Gibson has demonstrated some impressive durability even as he approaches age 40.
He’s made at least 30 starts in each of the last three seasons, including a 30-start, 4.24 ERA campaign for the St. Louis Cardinals this past season. He might not be a true replacement for Cole, but he would have a shot to hold down the final spot in the Yankees’ rotation or provide some critical depth against any further injuries.
“(Cole’s) contract still counts against their competitive balance tax total, but the insurance money will significantly offset the luxury tax they will have to pay for the addition of any replacement: the Yankees are taxed dollar for dollar, 100%, for any additional player salaries they take on,” Olney noted.
As a result, Gibson might be the right balance between cost and innings for an increasingly-desperate Yankees team.
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