The New York Yankees made a move on Tuesday evening that many thought was inevitable. The team signed starting pitcher Gerrit Cole to a record nine-year $324 million contract, according to multiple reports.
The Yankees were looking to upgrade their pitching staff, and they could not have done much better. He was one of the best pitchers in baseball in his two seasons with the Houston Astros, and will be a workhorse ace atop the Yankees rotation.
It is no surprise then that the Yankees received a boost in their World Series odds following the signing. Prior to the signing, DraftKings Sportsbook had the Yankees at +550 to win the World Series, and co-favorites with the Astros and Dodgers. Following the signing, their odds improved considerably to +425. The Yankees are now the sole favorites, with the Astros and Dodgers now behind them at +600, and then the Braves and Nationals at +1200.
Cole joins Stephen Strasburg in getting their contracts done before the Winter Meetings are completed. The top remaining free agents include Anthony Rendon, Josh Donaldson, Madison Bumgarner, and Hyun-Jin Ryu, among others. Rendon could potentially move odds a bit, but Cole was the one who would shake things up the most knowing he was departing Houston.
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