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Cody Bellinger

Yankees Re-Sign Cody Bellinger

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The Yankees and outfielder/first baseman Cody Bellinger have reunited on a new contract. The Boras Corporation client reportedly gets a five-year deal with a $162.5MM guarantee, with no deferrals. He gets a $20MM signing bonus followed by salaries of $32.5MM in each of the first two years, $25.8MM in each of the next two, then $25.9MM in the final season. Bellinger can opt out after the second or third season, though those opt-outs are pushed by a year if the 2027 season is canceled by a lockout. Bellinger also gets a full no-trade clause. The Yankees have not yet announced a corresponding 40-man roster move.

It always seemed like a good bet that Bellinger would return to the Yankees, since their first season together was a success. But there was a standoff recently, as the club and Bellinger’s camp had a bit of a gap. It was reported earlier this month that the Yankees had an offer out to Bellinger. No details on that offer were revealed but it was reported a few days later that they had made a second offer.

Subsequent reporting on the negotiations suggested the Yanks had put forth a five-year offer worth more than $150MM, but with Bellinger’s camp hoping to get the length pushed to seven years. That gap seemingly put things on ice for a moment, with alternative paths available to both parties. The Yankees showed interest in other players, including outfielder Luis Robert Jr., while Bellinger still had potential fits with teams like the Dodgers and Mets.

But the market has changed quite a bit in the past week. The Dodgers and Mets got into a bidding war over Kyle Tucker, with the Dodgers coming out on top. The Mets then pivoted to signing Bo Bichette to bolster their infield, followed by trading infielder Luisangel Acuña to the White Sox as part of their package to land Robert.

Those moves took away some alternate paths from the Yankees but also removed a couple of logical landing spots for Bellinger. He had also been connected to the Blue Jays, Giants and Phillies throughout the winter but none of those clubs seemed to be strongly in the mix. The Yanks seemingly didn’t budge far from where their reported offer was a few weeks ago, though they did add the opt-outs. It was reported a few days ago that they were willing to include those.

Though Bellinger and Boras didn’t quite get the seven years they were looking for, the deal comes in fairly close to expectations from the beginning of the offseason. For instance, MLBTR predicted Bellinger to land a guarantee of $140MM over five years. Bellinger has secured himself a floor just above that. There’s also a path to boosting his future earnings again with more opt-out opportunities down the line.

He is now 30, turning 31 in July, so he will be 32 years old by the end of the 2027 season. Alex Bregman and Kyle Schwarber both just got five-year deals this offseason, with Schwarber going into his age-33 season and Bregman age-32. Schwarber got a $150MM guarantee and Bregman $175MM, though Bregman’s deals had deferrals which pushed the net present value pretty close to Schwarber’s guarantee.

For Bellinger, he can bank $85MM over the next two years, when factoring in the signing bonus and the front-loaded salaries. When his first opt-out decision comes around, he would still have three years and $77.5MM left on this deal. If he continues to be a productive player between now and then, he should be in a good position to opt out. The lockout-specific provision of the opt-outs appears to be a way for the Yankees to get at least two years of Bellinger’s services.

While Bellinger has maintained some future earning potential, he has also secured himself a strong base after a few years of uncertainty. When he first hit the open market, he had shown both huge upside and a massive downside. In 2019, then with the Dodgers, Bellinger was the National League MVP. He hit 47 home runs that year. Offense was up all around the league thanks to some juiced balls but Bellinger also drew walks at a 14.4% clip and only struck out 16.4% of the time. His .305/.406/.629 line led to a 161 wRC+, even in the heightened offensive environment of that season. He stole 15 bases and got strong reviews for his defense. FanGraphs credited him with 7.8 wins above replacement.

But his production backed up a bit in 2020 and he infamously injured his shoulder in the NLCS during a post-homer celebration with teammate Enrique Hernández, as seen in this video from MLB.com.

Bellinger underwent surgery after the season and his performance was awful for two years after. He slashed .193/.256/.355 over 2021 and 2022, getting non-tendered by the Dodgers after the latter campaign. He latched on with the Cubs for 2023, signing a one-year deal worth $17.5MM. He had a strong bounceback season in Wrigley, hitting 26 home runs and slashing .307/.356/.525 for a 135 wRC+.

Going into 2024, Bellinger and his reps at the Boras Corporation were hoping to cash in. He had seemingly put the low points behind him. He was still young, going into his age-28 season, and had shown MVP upside. The previous offseason, Trea Turner and Xander Bogaerts had both secured 11-year deals. This was seemingly a way to lower the competitive balance tax hit of those deals, as a player’s CBT hit is calculated based on a deal’s average annual value.

MLBTR expected this trend to continue with Bellinger, predicting him for a 12-year deal worth $264MM. That seemed to be at least somewhat aligned with what Bellinger and Boras felt he could get, as they reportedly went out looking to top $200MM.

It did not play out that way. Though Bellinger’s 2023 season was a success, there was seemingly some concern about some lackluster batted-ball data. And with the injury-marred seasons still somewhat fresh in the collective memory, his market never quite developed as hoped.

It wasn’t just Bellinger, as several other players lingered unsigned that season. They came to be known as the “Boras Four”, as they were all repped by the same agency. Bellinger, Blake Snell, Matt Chapman and Jordan Montgomery all settled for short-term deals well below expectations. Bellinger returned to the Cubs on a three-year deal with an $80MM guarantee, with chances to opt out after each season.

The first season of that pact wasn’t a roaring success, as Bellinger was good but not great. He hit 18 home runs and slashed .266/.325/.426 for a wRC+ of 108. Bellinger decided to forgo the first opt-out opportunity and stick with the Cubs. The team didn’t hold up their end of the reunion, however, as they shipped Bellinger to the Yankees. It was effectively a salary dump. The Cubs got Cody Poteet in return, whom they designated for assignment a few months later.

The Cubs ate $5MM in the swap, leaving the Yanks theoretically on the hook for $47.5MM over two years, though with Bellinger still having another opt-out remaining. As mentioned earlier, the Yankees and Bellinger turned out to be a great match. He hit 29 home runs on the year and slashed .272/.334/.480 for a 125 wRC+. Yankee Stadium and its short porch in right field seemed to be a good fit for him, as he slashed .302/.365/.544 at home on the year. He stole 13 bases overall and continued to get good grades for his glovework, earning 4.9 fWAR.

Bellinger triggered his opt-out and took another crack at free agency, which led to this pact. As mentioned, it’s possible that Bellinger will return to the open market yet again in the future. For now, though it came about in circuitous fashion, he has pushed his earning floor above the $200MM he was looking for a few years ago.

His three-year deal with the Cubs paid him $27.5MM in each of the first two years. He collected a $5MM buyout when he opted out of the final season, meaning he banked $60MM on the pact. Combined with this deal with the Yankees, he’ll earn $222.5MM even if he doesn’t trigger either of the opt-outs in this deal.

For players taking the short-term route and hoping for more earnings later, this is another example of how the path is viable. It doesn’t always work out, as Montgomery will surely tell you, but the hit rate is pretty decent. Chapman, Snell, Bellinger, Bregman, Carlos Rodón, Pete Alonso and Carlos Correa have all signed two- or three-year deals with opt-outs and then later signed a longer deal worth nine figures.

For the Yankees, this gets their outfield back to its 2025 level. Both Bellinger and Trent Grisham became free agents at the end of last season but both have now re-signed. They project to line up in two outfield spots with Aaron Judge in another and Giancarlo Stanton in the designated hitter slot. Bellinger can also play a bit of first base but the Yanks could give Ben Rice the regular job there after his breakout season. Rice can also catch, so perhaps Bellinger would slide to first base if Rice is needed behind the plate.

It’s possible the Yankees now look to move some outfield depth in the wake of this deal. Jasson Domínguez was once a top prospect but had an underwhelming season in 2025. He was roughly league average at the plate but with poor defensive metrics. The Yankees also have Spencer Jones pushing for a job after he hit 35 home runs in the minors last year but he also struck out in 35.4% of his plate appearances.

Neither Domínguez nor Jones has a great path to playing time right now. That could change as the season goes along. Stanton is 36 years old and has made at least one trip to the injured list in seven straight seasons now. Judge will turn 34 soon. Even if he himself stays healthy, the Yanks may want to put Judge in the DH slot if Stanton is hurt.

Perhaps the Yankees will keep both Domínguez and Jones around as depth for such situations, as both players are still optionable, but either or both could also be trade fodder. Club owner Hal Steinbrenner has previously expressed a desire to keep the payroll beneath $300MM. The Yanks are now a bit over that. RosterResource has them at $304MM in terms of pure payroll, with a $318MM CBT number.

That CBT number is over the top tier, which is $304MM. Since the Yankees have paid the tax in at least three consecutive years, that puts them in the highest possible tax bracket. They were at about $285MM or so before the Bellinger deal, so they paid a 95% tax on the part of the deal pushing them to the top line and then a 110% tax on the part that went beyond it. In the end, they’re adding more than $30MM in taxes to their ledger, on top of what they are paying Bellinger. They still arguably need some pitching help, so perhaps they would trade from their outfield depth instead of adding more money via free agency.

For the other clubs in the league, this further narrows down the list of available options. As of the start of the year, there were still many players available in free agency or in trade, but the dominos have been falling in quick succession lately. The Cubs got a deal done with Bregman, which prompted the Red Sox to sign Ranger Suárez and the Diamondbacks to get Nolan Arenado. The Tucker deal pushed the Mets to Bichette and Robert, which may have helped the Phillies reunite with J.T. Realmuto and pushed Bellinger to get back together with the Yankees. The Realmuto deal seemingly led to Victor Caratini signing with the Twins. All that happened in the past 11 days.

Pitchers and catchers will be reporting to spring training in less than three weeks. With Bellinger now off the board, the top unsigned free agents include Framber Valdez, Zac Gallen, Eugenio Suárez, Harrison Bader, Chris Bassitt and others. There are still a few theoretical trade candidates out there, including Brendan Donovan and MacKenzie Gore.

Jeff Passan of ESPN first reported that the Yanks and Bellinger were in agreement on a deal. Bob Nightengale of USA Today first reported the five-year length and guarantee. Brendan Kuty of The Athletic first reported the lack of deferrals. Passan then reported the opt-outs, signing bonus and no-trade clause. Nightengale then reported the salary for the first two seasons. Jon Heyman of The New York Post reported the full salary breakdown. Nightengale added the detail of the opt-outs being pushed in the event of the 2027 season being canceled. Photos courtesy of Wendell Cruz, Vincent Carchietta, Imagn Images

Phillies Notes: Bichette, Roster, Castellanos, Wheeler

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The Phillies formally announced their re-signing of catcher J.T. Realmuto this morning. Realmuto, president of baseball operations Dave Dombrowski and manager Rob Thomson were all on hand for a media session conducted over Zoom shortly thereafter. Dombrowski, fielding questions regarding the reported pursuit of Bo Bichette and the late pivot back to Realmuto, candidly acknowledged that his club did indeed feel it was close to closing a deal with Bichette before the Mets jumped in following Kyle Tucker’s deal with the Dodgers.

“I can’t say that we ever thought it was done,” Dombrowski said when asked if he’d felt they had an agreement in place with Bichette. “We thought we were very close to having a deal done. We thought it was going to happen, but it wasn’t done. … Until you sign a memo of understanding, you don’t have a deal done — and we did not sign one of those. It wasn’t that we weren’t moving toward that direction. It isn’t that we didn’t think we were going to get there. But we just did not get to that point.”

The Bichette talks were serious enough that Dombrowski acknowledged informing Realmuto’s camp that they were likely to go in another direction and wouldn’t be able to make both signings happen at this time. When they got word of Bichette’s deal with the Mets, Dombrowski said he was back on the phone with Realmuto and his agent within an hour or so — his only interim call going to owner John Middleton, to keep him apprised of the situation. The veteran baseball operations executive conceded that it’s a “gut punch” anytime free agent or trade negotiations get to that stage and don’t culminate in a deal before adding, “you can’t just wallow in what took place” and that he had to simply “shake it off” and continue trying to improve his club. Notably, he added that the Phils were never interested in a short-term, opt-out-laden contract with Bichette.

Given that the Phillies were willing to offer a reported $190-200MM to Bichette over a seven-year term, it’s fair to wonder whether there might be some forthcoming additions. Realmuto, after all, commanded less than 25% of that sum in total. Dombrowski, however, at least strongly implied that his club is done with significant spending this winter. Asked about the lingering availability of impact names like Framber Valdez and Cody Bellinger, Dombrowski declined to get into specifics regarding any particular free agent but demurred to say:

“I really can’t speak to that, by the baseball rules — because they’re free agents — but I’d just say I think we’re content where we are at this point.”

With Realmuto back in the fold, the Phillies’ current payroll (as projected by RosterResource) sits just over $281MM. They’re at more than $317MM worth of luxury obligations, meaning they’d pay a 110% tax on any subsequent additions to the roster. Based on the Bichette pursuit, it seems Middleton was willing to extend further beyond the current price of the roster, but not that the Phillies have the proverbial money burning a hole in their pockets.

That doesn’t mean there isn’t room for some smaller-scale additions. Dombrowski alluded to the potential of bringing in some depth options for the rotation. He also candidly confirmed on the record that the team plans to move on from Nick Castellanos in some capacity. Castellanos is owed $20MM this season — the last of a five-year, $100MM contract signed in the 2021-22 offseason. Asked point-blank if he still “expect[s] to make a change of scenery [for Castellanos] before spring training opens,” Dombrowski replied: “Yes, we do. We still plan on doing that.”

A change of scenery has been presumed for months now. The Athletic’s Matt Gelb reported early in the winter that the Phils were likely to either trade or release Castellanos. The latter has seemed likelier all along, if only because finding a taker for even part of Castellanos’ salary is a tall order. The 33-year-old (34 in March) hit .250/.294/.400 with 17 home runs last season — about 10% worse than league-average, by measure of wRC+. That lack of offensive help was coupled with more bottom-of-the-scale defense in the outfield, the second-worst walk rate and average exit velocity of his career, and the lowest hard-hit rate he’s ever posted.

It’s feasible that as spring draws nearer, the Phillies might find a buy-low taker willing to pay a few million of the deal. Even getting someone to take on $2MM of that remaining $20MM would actually trim $4.2MM off the Phillies’ 2026 budget, given the previously mentioned 110% tax they’re paying on every dollar over the top luxury threshold. Clubs like the Pirates, Reds and Royals have been looking for more bats all offseason and could theoretically roll the dice on a hopeful rebound. Other clubs could come calling if they incur some injuries in spring training. For now, Castellanos remains on the roster.

One other item of note from today’s media session included a brief update on injured ace Zack Wheeler. The 35-year-old righty underwent thoracic outlet surgery in late September, and a timeline on his return has been murky. That’s generally still true, but both Dombrowski and Thomson noted that Wheeler has been throwing from flat ground and is up to a distance of 90 feet. Thomson added that Wheeler had a “heavy” workload last week and is expected to be at the team’s spring complex for more throwing on Thursday.

“No timetable, but so far the reports have been good,” Thomson said of his veteran righty.

Wheeler was diagnosed with venous thoracic outlet syndrome late in the season. It’s an ominous injury but the less severe form of TOS (as opposed to neurogenic TOS). Venous TOS comes with blood clots that can be life threatening but, as D-backs righty Merrill Kelly explained to Jesse Dougherty of the Washington Post several years ago, a “more straightforward” diagnosis and recovery. (Kelly pitched nearly a full season in 2021, the year after his venous TOS procedure, and has since done the best work of his career over the past four seasons.)

The original timetable for Wheeler was six to eight months, though every rehab process is unique and contingent upon the individual pitcher’s body. It’s encouraging that Wheeler appears to be on track, but the fact that he’s not yet working off a mound with only three weeks until pitchers and catchers report doesn’t bode well for hitting the shorter end of that window. A six-month return would’ve put Wheeler in games by late March, just prior to Opening Day. Eight months would set him back until around Memorial Day weekend. The Phillies will surely have plenty of updates as spring training progresses.

In Wheeler’s absence, the Philadelphia rotation will include Cy Young runner-up Cristopher Sanchez, Jesus Luzardo, Aaron Nola and Taijuan Walker. Longtime top prospect Andrew Painter is the current favorite for the fifth spot, but he has yet to make a major league debut and struggled in Triple-A last year during his return season from Tommy John surgery. Righties Yoniel Curet, Alan Rangel and Jean Cabrera are all on the 40-man roster, but none of that trio has a major league start under his belt. Adding at least one veteran swingman or starter, if not two, seems like a prudent course of action — even if it’s only on a minor league deal with an invitation to spring training.

Mets Still Looking To Add To Rotation, Outfield

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Bo Bichette was a somewhat unexpected addition to the Mets roster, so much of the team’s original offseason wishlist remains in place even after Bichette’s three-year, $126MM deal with New York earlier this week.  According to The Athletic’s Will Sammon, the Mets remain on the hunt for rotation help, as well as “a versatile outfielder who can handle center field and support the corner spots.”

Looking at the list of available free agent outfielders, Mets target Cody Bellinger is the ideal fit for the team’s needs.  Sammon reports that the Mets are still in on Bellinger, but only for the type of shorter-term (and presumably higher average annual value) contract Bichette received.  This could be an issue since the hang-up between Bellinger and the Yankees seems to be a matter of contract length, with Bellinger wanting a longer deal than the five-year pact in the $155MM range that the Yankees reportedly have on the table.

Bellinger’s first two free agent contracts were a one-year deal with the Cubs worth $17.5MM in guaranteed money, and then a three-year, $80MM deal with Chicago that included opt-outs after each of the first two seasons.  Bellinger passed on his first opt-out opportunity but changed teams anyway last winter when the Cubs traded him to the Yankees, and he then opted out last fall in the wake of a 4.9 fWAR season that saw him hit .272/.334/.480 with 29 homers over 656 plate appearances for the Bronx Bombers.

It isn’t a surprise that Bellinger is looking for some stability with his next deal, and coming off a solid platform season, the former NL MVP and agent Scott Boras have been aiming high in search of a seven-year deal.  Whether the Yankees, Mets, or any team will match that ask remains to be seen, but in the Mets’ case, it would run counter to the team’s recent preference to sign players to shorter-term contracts.  Perhaps a very large AAV (i.e. Bichette’s deal, or the four-year, $220MM deal the Mets reportedly offered to Kyle Tucker) would get Bellinger to budge, though if so, he could potentially see if the Yankees would also offer a similar pact if Bellinger has a preference to just return to his former team instead of another change of scenery.

Among other free agent outfielders, Harrison Bader is the only option that can truly be a defensive asset in center field.  On the trade front, Sammon suggests the Astros’ Jake Meyers, the Cardinals’ Lars Nootbaar, or White Sox center fielder Luis Robert Jr. could be possibilities for the Mets, and both Nootbaar and Robert have been linked to New York already this winter.

Bellinger could also chip in at first base when he isn’t in the outfield.  With Francisco Lindor returning at shortstop, the Mets’ revamped infield will also consist of Marcus Semien at second base, Bichette at third base for the first time in his pro career, and Jorge Polanco at first base for the first time in his pro career (save for one late-game cameo with Seattle last season).  The designated hitter spot is open, so any of these veterans could be given the occasional DH day for partial rest and to give any of the Mets’ backups some playing time.

Sammon writes that New York views Brett Baty as a candidate to bounce around the diamond as a backup at second and third base, left field, and some first base if necessary.  Mark Vientos, Luisangel Acuna, and Ronny Mauricio are also on hand as further infield depth.  Any of the depth options could be dealt, of course, if the Mets view trades over bigger-ticket free agent signings as a better way to address their needs.

Turning to the pitching front, Sammon cites the Nationals’ MacKenzie Gore and the Royals’ Kris Bubic as two starters who could be “trade possibilities” for the Amazins, “though both are considered long shots” to be acquired.  Within a Mets rotation full of health question marks and inexperienced arms, Bubic or especially Gore could be a stabilizing force.

Gore has been more good than great over his three seasons with Washington and might still have more upside, while the 2025 season represented the first time Bubic truly looked like a frontline arm.  Bubic posted a 2.55 ERA, 24.4% strikeout rate, 8.2% walk rate and 47.2% ground ball rate over 116 1 /3 innings with Kansas City last year, before a rotator cuff strain cost him the last two months of the season.  Gore is arbitration-controlled through the next two seasons, while Bubic is a free agent next winter.

Nats president of baseball operations Paul Toboni is known to be asking for a ton in return for Gore, and it could be that the Mets might have to pay a particular premium since they are one of the Nationals’ NL East rivals.  Bubic’s impending free agency has made him perhaps the most logical trade candidate out of the Royals’ group of starters, but the outfield-needy Mets don’t match up too well with a K.C. team that also needs outfield help.  One of New York’s infielders could theoretically be a fit for the Royals at second base, but the Royals appear to be giving Jonathan India a shot at a bounce-back year.

The door isn’t necessarily closed on the Mets signing a prominent free agent starter, though one might expect that the team would again prefer such a pitcher on a shorter-term contract.  For pitchers like Framber Valdez (who has been linked to the Mets) or Zac Gallen who rejected a qualifying offer, the Mets would need to surrender two 2026 draft picks and an additional $1MM in international draft pool money to sign either player.  New York already gave up that bounty to sign another qualified free agent in Bichette, and Sammon says the Mets wouldn’t be entirely adverse to giving up more QO-related penalties again for Valdez or Gallen, if the money was right.

Yankees Open To Including Opt-Outs In Bellinger Offer

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TODAY: In a new report from Brendan Kuty, he writes that the Yankees are willing to include opt-outs after the second and third seasons of their five-year offer.

JANUARY 12: The Yankees reportedly have a five-year offer at more than $30MM annually on the table to Cody Bellinger. ESPN’s Buster Olney nevertheless wrote over the weekend that New York was preparing for the possibility that the outfielder could head elsewhere, potentially on a six-plus year contract.

Brendan Kuty of The Athletic added a few specifics on the Yankees’ position in a report this evening. Kuty writes that the five-year proposal came with a “true” $31-32MM average annual value, as it did not include any deferred money. He adds that the Yankees are willing to discuss opt-out possibilities as well, though it’s not known if their most recent offer actually included such a clause. Jon Heyman of The New York Post similarly suggested that some kind of opt-out was a possibility.

Contract length appears to be the significant stumbling block. Bellinger’s camp at the Boras Corporation is reportedly looking for a seven-year guarantee. Olney suggested over the weekend that he also wanted more than the Yankees were offering on an annual basis, yet the extra year or two seems the bigger hurdle. Bellinger is entering his age-30 season (though he turns 31 in July, less than two weeks after the unofficial July 1 cutoff for a player’s seasonal age).

As shown on MLBTR’s Contract Tracker for Front Office subscribers, Brandon Nimmo signed the most recent six-plus year free agent deal for a hitter in his 30s. That eight-year pact was one of four such contracts over the 2022-23 offseason, but there hasn’t been one within the last two offseasons. Alex Bregman rejected a six-year offer from Detroit last winter in advance of his age-31 campaign. Bregman went on to agree to a five-year deal last week that’ll run through age-36, the same age at which a seven-year deal for Bellinger would conclude. Kyle Schwarber signed a five-year contract covering ages 33-37 last month.

Bellinger went short term with opt-outs during his last free agent trip. He signed a three-year, $80MM guarantee with outs after each of the first two seasons. After foregoing the first opportunity, he returned to the market on the heels of a .272/.334/.480 season in the Bronx. He’s unattached to a qualifying offer this time around and already seems assured of a much more lucrative guarantee than he commanded on his previous free agent deal.

Mets Reportedly Offered Tucker Four Years, $220MM

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The Mets’ final offer to Kyle Tucker was for four years and $220MM, reports Jim Duquette of MLB Network on Sirius XM Radio. Jon Heyman of The New York Post adds that the offer included no deferred money and would have been slightly frontloaded, paying $120MM over the first two seasons. Will Sammon of The Athletic adds that it included a $75MM signing bonus and allowed Tucker to opt out after the second and third season.

It’s a very similar structure to the four-year, $240MM deal which Tucker accepted from the Dodgers. The opt-out provisions were identical. New York offered a higher signing bonus and the absence of deferred money, while the Dodgers went the extra $20MM on overall guarantee. The Mets’ offer would have come with a $55MM average annual value. Tucker’s agreement with L.A. will be calculated a little north of $57MM annually after adjusting the net present value to account for $30MM in deferrals.

Tucker and his camp opted for the higher guarantee and slightly stronger adjusted annual value. The four-time All-Star also joins a team that is coming off consecutive championships and will enter the 2026 season as the likeliest team to win it all again. The Mets certainly have the high-end talent to compete in the National League, but they’re coming off a second half collapse and have probably downgraded this offseason. They swapped Brandon Nimmo for Marcus Semien, signed Jorge Polanco to replace Pete Alonso, traded Jeff McNeil, and added Devin Williams and Luke Weaver to a bullpen that lost Edwin Díaz, Tyler Rogers and Ryan Helsley.

The Nimmo trade leaves the Mets in obvious need of a left fielder. Bob Nightengale of USA Today suggests they’re likely to more seriously pursue Cody Bellinger at this point. That’d probably require them to reverse course on this winter’s aversion to long-term commitments. The Yankees reportedly have a five-year offer out to Bellinger in the $155-160MM range. That’s already a hefty annual value and a decent term, though his camp at the Boras Corporation is seemingly shooting for seven years.

Harrison Bader may be the only other everyday outfielder remaining in free agency. He’s a glove-first center fielder who had a middling season for the Mets just two years ago. They might not feel he’s a significant enough upgrade over Tyrone Taylor, and he’s certainly not an approximation for the middle-of-the-order bat they were trying to land in Tucker. They could be more aggressive on the trade front for someone like Jarren Duran or Lars Nootbaar. Getting the Red Sox to deal the former would likely require parting with one of their talented starting pitchers alongside immediate infield help (i.e. Brett Baty or Mark Vientos).

Poll: Will The Dodgers Add A Big Bat In Free Agency?

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Outside of a surprise strike to land star closer Edwin Diaz during the Winter Meetings, it’s been an unusually quiet offseason for the Dodgers. On some level, that’s understandable. The team had no core players depart in free agency this offseason, and they just won their second consecutive World Series title back in November. While Los Angeles has spent the past few offseasons building up a juggernaut by adding players like Shohei Ohtani, Yoshinobu Yamamoto, Blake Snell, and Tyler Glasnow, there’s less urgency to continue piling on star talent at this point.

Coming off two World Series championships, it would be understandable for president of baseball operations Andrew Friedman and the rest of the team’s front office to be content bringing back mostly the same roster in 2026. Many signs point to them doing just that, as comments from team personnel have acknowledged the club’s aging roster and the importance of bringing along some younger players for the sake of the team’s long-term viability. Clayton Kershaw has retired. Freddie Freeman will play this year at age 36. Mookie Betts is headed into his age-33 season coming off the worst season of his Hall of Fame career. Even younger members of the team’s core like Ohtani (31), Snell (33), Glasnow (32), and Will Smith (31) are all on the wrong side of 30 at this point.

With many of core veterans under contract for years to come beyond their respective primes, even the mighty Dodgers have to think twice about adding another long-term, nine-figure contract to the books. At the outset of the offseason, many assumed that Los Angeles would once again be a top player in the market for the winter’s stars, like Kyle Tucker and Bo Bichette. As the offseason dragged on, however, it quickly became clear that L.A. wasn’t interested in jumping the market for a top free agent as they have in the past.

The team has some exciting prospects poised to reach the majors in the coming years. Infielder Alex Freeland is already arguably MLB ready, and signing an infielder like Bichette could wind up blocking him long-term. Star outfield prospects Zyhir Hope and Josue De Paula are further away from the majors but could debut later this year and are both consensus top-50 prospects in the sport. Even as the team’s projected outfield lacks much impact (with Teoscar Hernandez and Andy Pages set to take up regular roles alongside some combination of Tommy Edman, Alex Call, and Hyeseong Kim), it’s easy to see why the team might hesitate about signing Tucker to a massive contract.

All of those considerations still remain for the Dodgers, but that hasn’t stopped them from coming up more frequently in the rumor mill for players’ markets as the offseason has progressed. Tucker remains available on the market and has a relatively small number of suitors outside of L.A., with the Blue Jays and Mets being the other teams most frequently connected to him. Bichette’s market has kicked up in recent days with the Phillies, Red Sox, and Blue Jays among the teams involved on some level or another, while the Mets and Yankees are two of the few remaining realistic landing spots for Cody Bellinger.

The Dodgers have appeared to remain on the periphery of all three of those markets, and appear ready to pounce if any of them express willingness to sign a shorter-term deal at a high average annual value. Whether that will happen remains to be seen but the likelihood of such a deal increases as Spring Training approaches. The Phillies, for example, would need to do quite a bit of maneuvering to fit Bichette into the roster and budget plans. That figures to include trading Alec Bohm, which could be difficult to pull off late in the offseason once teams have mostly settled their rosters. Meanwhile, a team like the Red Sox or Yankees could take themselves out of the market for help on offense by swinging a trade for a bat like Isaac Paredes or Brendan Donovan.

If a star free agent finds themselves without much of a long-term market and needs to pivot towards a shorter deal, the Dodgers appear very well positioned to make a play. Edman’s positional flexibility would allow the Dodgers to accommodate a short-term addition to either their infield or outfield, with the super utility man getting regular reps on the grass if Bichette is brought in or handling the keystone if either Bellinger or Tucker joins the organization. What’s more, it’s hard to imagine a more attractive club to spend a year with than L.A. given the team’s star power and winning culture. Helping the Dodgers to a three-peat with a strong 2026 campaign would be the exact sort of profile booster that a star free agent like Tucker or Bichette would be hoping for on a pillow contract.

What do MLBTR readers think? Will the Dodgers swoop in and snag one of the remaining top bats in free agency, or will they head into 2026 with more or less the same roster they won the World Series with last year? Have your say in the poll below:

Yankees Have Shown Interest In Nico Hoerner, Luis Robert Jr.

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At the start of the offseason, it felt inevitable that the Yankees and Cody Bellinger would reunite. That may still happen but it seems up in the air at the moment. Talks between the two sides have seemingly stalled out. Jon Heyman of The New York Post reports today that both sides have been exploring alternatives lately. Bellinger has interest from other clubs. Meanwhile, the Yankees have been touching base with free agents Bo Bichette and Kyle Tucker, who they have been connected to previously. They’ve also checked in on trade candidates Luis Robert Jr. of the White Sox and Nico Hoerner of the Cubs. The Yanks’ interest in Hoerner was first reported by Pat Ragazzo of SI.

Bellinger spent 2025 in the Bronx and it seemed to go well. He hit 29 home runs and slashed .27/.334/.480 for a wRC+ 125. He stole 13 bases and played all three outfield slots as well as first base. He appeared to be especially comfortable in Yankee Stadium, slashing .302/.365/.544 there. He opted out of the final season of his contract, taking a $5MM buyout and leaving a $25MM salary on the table. At the start of the offseason, MLBTR predicted Bellinger to have enough juice for a five-year, $140MM deal.

It was reported on New Year’s Day that the Yanks had made an offer to Bellinger. A few days later came reports of a second offer. No details of either offer were initially revealed but further reporting indicated the sides weren’t close to a deal. Subsequent reporting has put the Yankee offer at five years and over $30MM annually, putting the guarantee somewhere in the vicinity of $155MM. That hasn’t been enough to get a deal done with Bellinger hoping to get to seven years.

It seems the two sides have taken a break from the staredown to look elsewhere. Heyman says they continued talking over the weekend but each party is considering alternatives. Heyman mentions the Dodgers, Giants and Mets as clubs believed to have interest in Bellinger. Those clubs have all been tied to Bellinger via rumors earlier this winter but are imperfect fits. All three could use outfield help to varying degrees but they also appear to be trying to avoid long-term commitments at the moment.

Since the hold-up between the Yankees and Bellinger appears to be the length of their offer, it’s hard to envision any of these clubs outbidding the Yankees. Any of the three could perhaps change their stance to take advantage of this opportunity but it also could be more likely that those clubs would prefer to get Bellinger via another short-term, opt-out laden deal. It’s unclear if he would want to do that after going down that road a couple of years ago, but it presumably depends on where things go in the next few weeks.

The Blue Jays have also been connected to Bellinger this winter but it seems they are more focused on Bichette and Tucker with Bellinger perhaps a backup plan. The Cubs were also connected to their old friend Bellinger this winter but signing Alex Bregman is presumably their big splash of the winter.

For the Yankees, they could perhaps increase their offer but are also seeing what else is on the menu. With Hoerner, it’s unclear if the Cubs have any interest in trading him but he has been in rumors and it’s arguable they should consider it. Hoerner is a good player but is a free agent after 2026. With the Cubs recently signing Bregman, their infield is now a bit cluttered. Putting Bregman at third bumps Matt Shaw to the bench.

If they wanted to, the Cubs could trade Hoerner and then move Shaw to second base. That would declutter things a bit and also should bring back something of note. Hoerner’s $12MM salary this year is very affordable considering his production. He doesn’t hit a ton of home runs but rarely strikes out, relying on his contact, speed and defense to provide value. It’s a combination that works, as FanGraphs has credited him with 3.9 wins above replacement or more in each of the past four years.

It could also give the Cubs a bit more breathing room in terms of the competitive balance tax. The Cubs went narrowly above the CBT in 2024 but have otherwise stayed under the line in each season from 2021 to the present.

RosterResource currently estimates them for a CBT number of just over $243MM, putting them less than a million from this year’s line. A team’s CBT number isn’t calculated until the end of the year, so in-season moves can move a club up or down. If the Cubs want to avoid the tax in 2026, creating some space now could be something they consider to give them more ability to make moves at the deadline.

For the Yankees, Hoerner wouldn’t help replace Bellinger in the outfield but he should make the team better. Though he has largely been a second baseman for the Cubs, he is considered good enough to be a shortstop. He has just been on the other side of the bag in deference to Dansby Swanson.

The Yanks have an uncertain shortstop situation at present, hence their previous connection to Bichette. Anthony Volpe is coming off a down year and may not be ready for Opening Day 2026 as he recovers from shoulder surgery. José Caballero currently projects as the top shortstop for the early season, though he has mostly been a utility guy in his career. If the Yanks add a shortstop, then he could return to that role.

The thinking with signing Bichette had a couple of attractions. He could upgrade the shortstop position now, then second base in the future. Jazz Chisholm Jr. is currently the club’s second baseman but he is slated for free agency after the upcoming season. With the Yanks having shortstop prospect George Lombard Jr. waiting in the wings, Bichette could cover short for a year and then slide to the other side of the bag with either Lombard or a resurgent Volpe at short.

Hoener wouldn’t be quite the same acquisition, barring an extension, as he is only signed through 2026. Still, that would likely have appeal for the Yankees in a different way. They could upgrade the middle infield for now without making a huge commitment. After 2026, depending on how things go with Lombard, Volpe, Hoerner and Chisholm, they could then decide about how to invest in the middle infield for the long term.

They would, however, have to give the Cubs something of value in return. As mentioned, it’s unclear if the Cubs have any interest at all in flipping Hoerner. Even if they do, they would presumably be looking for some kind of win-now upgrade, likely on the pitching staff. With the Yanks looking for pitching help themselves, it may be challenging to line up a deal that makes sense for both sides.

As for Robert, he is surely available but also tricky to value. He has shown borderline MVP upside but is coming off two years marred by injuries and underperformance. In 2023, he hit 38 home runs and stole 20 bases, slashed .264/.315/.542 and got strong grades for his center field defense. But since then, he has made a number of trips to the injured list while slashing .223/.288/.372 for a wRC+ of 84.

The White Sox are rebuilding and will surely trade Robert but are seemingly hoping to trade him at peak value. He wasn’t moved in 2025 even though it was the final guaranteed year of his contract. They picked up a $20MM option for 2026. Teams like the Yankees and others might want to buy low but the Sox are likely motivated to wait. After his down year, it would make sense to hold him until the deadline, with the hope of him getting back in form and therefore increasing his trade value.

The Yankee outfield currently projects to include Aaron Judge and Trent Grisham in two spots. If the season started today, Jasson Domínguez and Spencer Jones would battle for a third. Domínguez is coming off a rough year in 2025, with an average bat and poor defense. Jones hit 35 home runs in the minors last year but also struck out 35.4% of the time, creating some doubt about how viable his bat will be in the majors.

Acquiring Hoerner wouldn’t do much to change that picture but perhaps the Yanks would be more comfortable with the uncertainty of the Domínguez/Jones combo with a stronger infield. Bringing back Bellinger, signing Tucker or acquiring Robert would strengthen the outfield group, bumping Domínguez to more of a part-time role and keeping Jones in Triple-A.

There are many moving pieces here as the offseason moves into the final weeks before pitchers and catchers report to spring training. Tucker, Bichette and Bellinger are the top position players still out there, with a lot of overlapping interest. The Jays are seemingly in on all three, considered by some to be the favorites for Tucker but a Bichette reunion also makes sense. Like Bellinger, Bichette is considering other options. He is meeting with the Phillies today, although that is a bit complicated, as Philadelphia would seemingly have to move on from both J.T. Realmuto and Alec Bohm to fit Bichette onto the roster and into the budget. The Red Sox just missed on Bregman and could turn to Bichette but they don’t seem too keen on big long-term investments. The Dodgers, Giants and Mets may be looking to get opportunistic if a nice short-term opportunity becomes possible.

It’s a bit of a game of musical chairs with the Yankees and Bellinger some of the key participants. Bregman just found a seat in Chicago but others will have to sit soon. Pitchers and catchers report to spring training in about a month, so the music is slowing down.

Photo courtesy of Sergio Estrada, Imagn Images

Yankees, Cody Bellinger “At An Impasse” In Negotiations

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The Yankees’ attempt to reunite with free agent Cody Bellinger seems to have hit a wall. ESPN’s Buster Olney reports the two sides are “at an impasse.” New York is moving forward as if Bellinger is signing with another team and will look to make additions elsewhere, adds Olney.

Brendan Kuty of The Athletic reported on Thursday that the Yankees had an offer in to Bellinger for more than $30MM a year. Olney reiterated that figure, while also mentioning that the proposal on the table was for five years. Bellinger and his team (he’s a Boras Corporation client) have been pursuing a deal for seven years, while reports had New York preferring something in the four-to-five range.

A contract of five years at more than $30MM per season would be right in line with the deals inked by the top free agent bats this offseason. Pete Alonso got five years and $155MM from Baltimore. Kyle Schwarber returned to Philadelphia on a five-year, $150MM deal. The length of New York’s most recent reported offer would be an obvious sticking point for Bellinger’s camp, given their known preferences, but Olney added that they’re also looking to do better than the $30MM AAV.

Bellinger seemed to be New York’s main priority this offseason. Kyle Tucker is the premier hitter on the market, but reports suggested he was the Yankees’ backup plan to Bellinger. The club was only recently linked to Bo Bichette and has not been significantly connected to Alex Bregman.

The now 30-year-old Bellinger excelled in his lone season in the Bronx. He slashed .272/.334/.480 with 29 home runs across 152 games. Bellinger made the most of the friendly confines of Yankee Stadium, hitting .302 with 18 home runs at home. His OPS slipped by nearly 200 points on the road.

The Cubs were the most recent team to join the lengthy list of Bellinger suitors. The Dodgers, Giants, Mets, Angels, Blue Jays, and Phillies have all been connected to the free agent outfielder at various points this offseason. A return to Chicago would be fitting after the club twice gave Bellinger a home when the market went cold on him.

After the Dodgers cut ties with the 2019 NL MVP, the Cubs added him on a one-year, $17.5MM pact for 2023. Bellinger hit a career-high .307 and posted a 135 wRC+ in his first year in Chicago, but it wasn’t enough to garner a long-term deal from other teams the following offseason. The Cubs brought him back late in the winter on an opt-out-laden three-year deal. The club would ship him to the Yankees after just a season in what amounted to a salary dump, so maybe it isn’t a perfect homecoming.

Photo courtesy of Brad Penner, Imagn Images

Yankees’ Offer To Bellinger Reportedly Above $30MM AAV

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The Yankees have made multiple offers to Cody Bellinger in recent weeks. Brendan Kuty of The Athletic reports that the most recent had an average annual value north of $30MM. However, the sides are still held up on contract length.

Kuty writes that Bellinger’s camp continues to push for a seven-year contract. It’s not known how many years the Yankees are willing to go, but it has thus far apparently been less than seven. Jon Morosi of The MLB Network suggested earlier this week that the team was more comfortable with a four- or five-year commitment.

The rumored proposal from New York would put Bellinger in the range of the most expensive bats to sign this offseason, at least on an annual basis. Kyle Schwarber re-signed with the Phillies for five years and $150MM. Pete Alonso received a five-year, $155MM deal from Baltimore. If the Yankees get their wish regarding the contract length, Bellinger’s deal likely ends up looking a lot like the Schwarber and Alonso pacts. MLB Trade Rumors settled on a five-year, $140MM contract in our list of the top 50 free agents.

As Kuty notes, a contract exceeding $30MM a year would make Bellinger one of the highest-paid outfielders in the league. Juan Soto, Aaron Judge, Mike Trout, and Mookie Betts (if he still counts) are the only outfielders making more than $30MM per season. It would also be a significant jump from his recent contracts, as the market has treated him with trepidation in previous years.

After the Dodgers moved on from Bellinger following the 2022 season, the Cubs scooped him up on a one-year, $17.5MM deal. Bellinger rewarded Chicago with a 20/20 campaign, but it wasn’t enough to land a long-term contract. He ended up back with the Cubs on a three-year, $80MM deal with opt-outs after each season. Bellinger didn’t opt out after a middling 2024 and was then traded to New York. The Yankees were able to land him just by sending over Cody Poteet and agreeing to pay all but $5MM left on Bellinger’s contract.

Bellinger unsurprisingly opted out of the final year of his deal after a strong season in New York. Regardless of where he ends up, he should be able to top the $25MM he was slated to make in 2026. Bellinger slugged 29 home runs last year, the most since his NL MVP campaign in 2019. He added 13 steals and nearly drove in 100 runs. Bellinger also provided stellar defense, with both Defensive Runs Saved (+11) and Outs Above Average (+7) praising his work in the field. Bellinger logged 300+ innings at all three outfield positions. He also made a handful of appearances at first base. The Yankees didn’t need his services in the infield with Paul Goldschmidt on board, but he could be an asset there if needed.

In addition to the considerable counting stats, Bellinger also made some improvements under the hood in 2025. He bumped his hard-hit rate to 37.9%. That mark is just above league average, but it’s a big improvement from recent seasons. Bellinger’s 31.4% hard-hit rate in 2023 was among the reasons he failed to secure a long-term deal after his first year with the Cubs. While he hit .307 that season, it was likely fueled by a career-high .319 BABIP. His xBA (.268) was nearly 40 points lower than his actual mark. Bellinger’s hard-hit rate improved to a still-underwhelming 32.9% in 2024, while his bat speed slipped to 69 mph, which ranked in the 13th percentile.

Bellinger also made more contact this past season. His 13.7% strikeout rate was the best mark of his career, as was his 7.6% swinging-strike rate. Bellinger ranked 26th among all qualified hitters with a 91% zone contact rate. He’d only been above 87% once in his career before 2025. Average batted ball metrics combined with elite contact skills could portend continued success for the 30-year-old Bellinger, particularly if he stays in New York. He slashed an uninspiring .241/.301/.414 on the road last year.

The Best Fits For Cody Bellinger

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The top of the free agent position player market has not moved as quickly as it did in the previous couple offseasons. Kyle Tucker, Bo Bichette, Alex Bregman and Cody Bellinger remain unsigned.

That's not a huge surprise for the latter two hitters given the Boras Corporation's general willingness to wait deeper into the offseason if strong deals don't immediately materialize. Tucker and Bichette, the two best free agents, are respectively represented by Excel Sports Management and Vayner Sports. The slow offseason can't entirely be attributed to Boras. It's possible that Bellinger is waiting on Tucker while Bregman awaits resolution on the Bichette landing spot. There's a decent amount of overlap, especially among a handful of big-market franchises that have been relatively quiet in free agency thus far, in those respective markets.

Bellinger is a free agent for the third time in the past four years. He's hoping to finally command the long-term contract that alluded him in the two prior trips. He was always going to be limited to a one-year pillow deal in 2022 after consecutive down seasons led the Dodgers to non-tender him. A resurgent '23 campaign with the Cubs didn't lead teams to buy into him as a franchise altering addition. He returned to Chicago on a three-year deal with opt-outs, then was traded to the Yankees after an underwhelming 2024 campaign.

The long speculated connection worked beautifully. Bellinger's left-handed bat played very well at Yankee Stadium. He hit 29 home runs, his highest total in six years, while batting .272/.334/.480 across 656 plate appearances. FanGraphs and Baseball Reference each valued him around five wins above replacement.

Teams could still quibble with some of his underlying splits. Bellinger was a league average hitter away from the short porch in the Bronx. His batted ball metrics remained middle of the pack, and his results outpaced his "expected" statistics from Statcast for a third straight season. The average batted ball data was a stumbling block for teams in prior offseasons -- both in his '23 free agent trip, and when the Cubs were shopping him last winter.

Will a third straight season of overperformance lead teams to conclude that Bellinger's plus contact skills outweigh the exit velocity concerns? He's one of the best left-on-left hitters in MLB, batting .329/.371/.546 against southpaws over the past three seasons. The average left-handed batter (.230/.299/.365) hits like Marcus Semien or Otto Lopez when he doesn't hold the platoon advantage.

Bellinger isn't attached to draft compensation because he was ineligible for the qualifying offer. His camp will surely look to play up the narrative that he has proven himself in three major markets over the course of his career. A five- or six-year contract seems like the median outcome for the 30-year-old former MVP. Jon Morosi of The MLB Network suggested on Wednesday that his camp may be looking for seven years.

Where might he end up?

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