With Gerrit Cole opting out of the remaining four years and $144 million on his contract, the New York Yankees can retain their ace by adding an additional year and $36 million to his nine-year, $324 million deal, ESPN reported on Saturday.Cole, 34, opted out less than a week after losing the World Series-clinching Game 5 to the Los Angeles Dodgers. The veteran right-hander held Los Angeles hitless through four innings as the Yankees tried to force Game 6, but it all fell apart in a five-run fifth, with all five runs unearned against Cole. The Dodgers went on to win 7-6 and hoisted the World Series trophy at Yankee Stadium.Per the report, the Yankees face a Monday 5 p.m. ET deadline to add a year to Cole’s deal, which would be extended to five years for $180 million. The prevailing thought is that New York will keep the 2023 American League Cy Young Award winner in pinstripes.If the Yankees decline to void Cole’s opt-out clause, one of the game’s best pitchers would be cast into a pool of stellar free-agent starters, including Blake Snell, Max Fried, Jack Flaherty, Corbin Burnes, Walker Buehler, Sean Manaea, Luis Severino and Yusei Kikuchi.Earlier Saturday, the Yankees declined the $17 million club option for 2025 for first baseman Anthony Rizzo, 35, who will enter free agency.Coming off his Cy Young Award win in 2023, Cole missed the first 2� months of this season due to an elbow injury, but he went 8-5 with a 3.41 ERA in 17 starts, notching 99 strikeouts and 29 walks over 95 innings.