Cody Bellinger fits just about any roster. He plays good defense at all three outfield positions and can handle first base. The left-handed hitter is coming off a 5.1 WAR season, per Baseball Reference, in which he hit 29 home runs and posted a 125 wRC+ for the New York Yankees. And he’s still only 30 years old.
So, it’s possible at any moment his agent, Scott Boras, will land a too-good-to-say-no contract offer from a team nobody saw coming — the way the New York Mets stole Bo Bichette from the Philadelphia Phillies, or how the Chicago Cubs took Alex Bregman from the Boston Red Sox.
But with less than a month until spring training, and more than a week since the details of the Yankees’ latest proposal to Bellinger became public, a question lingers:
What’s Bellinger’s market at this point, anyway?
There have been no new reports of teams making formal offers to Bellinger since it surfaced that the Yankees extended to him a deal worth as much as $160 million over five years that included no deferrals and the possibility of opt-outs, according to league sources.
The Athletic has since learned, via a league source who has been briefed on the ongoing talks, that the Yankees would be willing to include opt-outs after Year 2 and Year 3 of the five-year deal. That’s in addition to a signing bonus, which the New York Post’s Jon Heyman first reported. At the time of the Yankees’ latest offer, Bellinger’s camp had been pushing for a deal with seven years and a higher average annual value (than $31 million to $32 million), and it appears they haven’t moved off the request.
The news of the opt-outs is particularly interesting in light of recent blockbuster signings. On Thursday night, the Los Angeles Dodgers agreed with outfielder Kyle Tucker on a four-year, $240-million deal. The next morning, the Mets nabbed Bichette for three years and $126 million. Both contracts contain two opt-outs.
With Tucker and Bichette accepting deals with higher yearly salaries but shorter commitments, how has Bellinger’s market or desires changed, if at all? And would the opt-outs the Yankees are offering become more appealing to him, considering they would allow him to re-enter free agency at age 32 or 33?
Or might the Arizona native switch his thinking to a high-AAV, short-term deal, like Tucker and Bichette? He’s been down that road before, taking a three-year, $80-million deal from the Cubs in 2024. Does he still prefer the long-term security and (likely) higher dollar amount? Or would he try to bet on himself in free agency again in another couple of years?
Will Cody Bellinger, Trent Grisham and Aaron Judge be the Yankees’ Opening Day outfield? With less than a month until spring training starts, Bellinger’s destination is still unclear. (Justin Casterline / Getty Images)
The Mets continue to have interest in Bellinger, but would prefer him on a short-term deal, The Athletic’s Will Sammon reported.
The Toronto Blue Jays’ offer to Tucker was worth $350 million over 10 years, Heyman reported. Boras indicated at the Winter Meetings that Toronto was among at least eight teams with interest in Bellinger, but that was more than a month ago and the free-agency landscape has changed plenty since then.
The Phillies have a Bichette-sized hole in their roster, despite quickly agreeing to re-sign catcher J.T. Realmuto after the ex-Blue Jay landed with the Mets. At the Winter Meetings, Boras also suggested the San Francisco Giants, Cincinnati Reds and Los Angeles Angels had interest in Bellinger, but detailed reports linking them to him have been scant.
As the Yankees wait for Bellinger, they have turned their attention to the trade market, so they’re ready to move on from him if they find a deal to their liking, or are prepared to pivot should he sign elsewhere. They have maintained heavy interest in Milwaukee Brewers starting pitcher Freddy Peralta, according to The Athletic’s Ken Rosenthal. But the Yankees would do well to upgrade their rotation, even if they retain Bellinger.
Through it all, the Yankees continue to hold firm with their offer to Bellinger. And they’re surely wondering, like many across baseball, what is Bellinger’s true market right now?
