Gerrit Cole gave up his opt-out right on Monday and will remain with the New York Yankees under a contract that runs through 2028 rather than become a free agent.New York's ace initially exercised his right to terminate the $324 million,

Gerrit Cole will remain with the Yankees rather than become a free agent as the sides work on a revised contract, sources said.

New York Yankees ace Gerrit Cole is staying in town. Cole will remain with the Yankees on the original four-year, $144 million deal he had remaining on his contract, despite having opted out a few days ago, reports ESPN.