How Cody Bellinger's Yankees Return Impacts Blue Jays Outfield Plans
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Cody Bellinger is staying in the Bronx. The outfielder agreed to a five-year, $162.5 million deal with the Yankees on Wednesday, removing another potential target from Toronto's shrinking list of available bats.
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ESPN's Jeff Passan reported the agreement includes opt-outs after the second and third years, a $20 million signing bonus, and a no-trade clause. The deal ends weeks of negotiations between Bellinger and the Yankees.
Cody Bellinger's deal with the Yankees is for five years and $162.5 million, sources tell ESPN. There are opt-outs after the second and third season, a $20M signing bonus and a full no-trade clause.
— Jeff Passan (@JeffPassan) January 21, 2026
The Blue Jays reportedly weren't particularly interested in Bellinger throughout the winter anyway. Former MLB general manager Jim Bowden had explained why Toronto was staying away during an appearance on Foul Territory earlier this week before the signing.
Bowden pointed to the risk of how Bellinger would age with his swing, noting that the Cubs had to eat part of his contract just a year ago to trade him to the Yankees. That concern speaks directly to how executives Mark Shapiro and Ross Atkins operate under their philosophy of avoiding risky long-term deals.
Bellinger's career shows extreme volatility with a 2019 MVP season followed by three brutal years including a .165 average in 2021. Bowden drew a sharp contrast between Bellinger and Kyle Tucker, who Toronto pursued aggressively before he signed with the Dodgers.
Tucker has never posted an OPS below .800 in any full season, the kind of consistency Toronto reportedly felt comfortable offering a 10-year deal worth around $350 million. Bowden said he would have been fine giving Tucker that deal but considered Bellinger too risky for that kind of commitment.
Toronto's caution proved justified, but Bellinger's return to New York still creates complications for a Blue Jays team searching for offensive help after missing on both Tucker and Bo Bichette last week.
What Bellinger's Deal Means for Toronto
The signing narrows an already thin market for outfield upgrades. Toronto still needs a left-handed bat, and Bellinger represented one of the last premium options available in free agency despite the front office's reservations about his consistency.
George Springer and Daulton Varsho both hit free agency following this season, which makes outfield planning crucial beyond 2026. With Bellinger off the board, the Blue Jays now face a decision about whether to explore the trade market or rely on internal options.
Bellinger staying in New York also strengthens a division rival. The Yankees retain a versatile defender who posted a .272 average with 29 home runs and 98 RBIs last season. His 5.0dss WAR made him one of the more productive outfielders in baseball, and Toronto will face him multiple times throughout the year.
The Blue Jays have already committed over $337 million this offseason to pitchers like Dyslan Cease and hitters like Kazuma Okamoto. They showed willingness to spend aggressively with their reported offer to Tucker, but consecutive misses on top free agents leave their offensive plans uncertain.
General manager Ross Atkins must now decide whether to pivot to the trade market for outfield help or trust the current roster construction heading into spring training. The Bellinger signing closes one door, even if Toronto never seriously considered walking through it.
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Jayesh Pagar is currently pursuing Sports Journalism from the London School of Journalism and brings four years of experience in sports media coverage. His current focus is MLB coverage spanning the Blue Jays, Astros, Rangers, Marlins, Tigers, and Rockies, with additional expertise in basketball and college football.