This is the other side of Gerrit Cole’s $324 million deal.

The Yankees, in making the Cole pact official on Wednesday morning, announced that they designated Chance Adams for assignment. The 25-year-old was once one of the more promising prospects in the Yankees system, but has failed to deliver in several chances in the major leagues.

Adams, who was a fifth-round pick in 2015, shot up to Triple-A after two dominant seasons in the minors. Adams, though, had offseason surgery in 2018 to remove bone chips from his throwing elbow and his velocity dropped from the mid-90s to the low 90s.

In his 16 major-league appearances, which have all come over the past two seasons, Adams is 1-2 with an 8.18 ERA.

“I haven’t really shown them this year that I was quite ready with my stuff,” Adams told The Post in 2018. “But just going out there trying to focus with where I’m at and succeed.

“It can be [frustrating]. I know where I can be, and I know where I’m at right now. It’s difficult knowing I’m pitching not how I want to be.”