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Cole will remain with the Yankees on the four-year, $144 million contract he had previously opted out of, Jeff Passan of ESPN.com reports.

Essentially, it's as if Cole didn't even exercise the opt-out clause in his contract. Although, it's expected the two sides will continue to negotiate a contract extension, possibly tacking a year onto the end of the pitcher's current deal. Cole posted a 3.41 ERA and 1.13 WHIP across 95 innings this season following a two-month absence due to an elbow injury.

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