Cody Bellinger’s Return Still Doesn’t Move the Needle for the Yankees

Bellinger’s return was important for the Yankees, but they still don’t appear to be much better off than they were last year.

Cody Bellinger agreed to re-sign with the Yankees on a five-year contract in free agency. | Nick Wosika-Imagn Images

After what felt like an eternity, and an arduous negotiation process, the Yankees and Cody Bellinger were finally able to come to terms on a new contract on Wednesday.

Bellinger will remain in the Bronx under a new five-year contract worth $162.5 million. The deal includes a $20 million signing bonus and will feature opt-outs after the second and third seasons, as well as a no-trade clause, per ESPN’s Jeff Passan.

It’s a deal the Yankees had to get done. After standing pat and failing to make any major moves thus far into the offseason, it truly began to feel as if it was Bellinger or bust for New York. Fortunately, they’ve managed to retain their top free agent, but does his return truly enhance the team’s chances of winning a World Series?

Don’t get me wrong. Bellinger returning is important. But the Yankees are effectively back to where they were last season when they were routed in the ALDS by the rival Blue Jays. As it stands, the organization will trot out the same core in 2026 as they did in 2025, while many of their competitors have re-tooled and gotten better.

Even the Dodgers, who already felt like a team that was as good as could possibly be assembled, went out and made a pair of major additions in Kyle Tucker and Edwin Díaz. The reigning champions look even more unbeatable than ever, while the rest of the league continues to try to play catch-up. And that’s the main difference between the two teams’ offseasons. Los Angeles, despite winning two consecutive World Series titles, remained aggressive and added more top-of-the-line talent. Meanwhile, New York, still seeking its first championship since 2009, struggled to retain its own.

Again, Bellinger coming back is a good thing. But the fact his return has essentially been the only move of substance for a team that says it has legitimate World Series aspirations is a cause for concern.

Last year, Bellinger had his best season since his NL MVP-winning campaign in 2019. He produced 5.1 bWAR, launched 29 home runs and recorded a .813 OPS. Letting him walk to another organization would’ve been a catastrophe, but retaining him without any making other key additions doesn’t move the needle enough for the Yankees to truly challenge the Dodgers, or even some of teams in the American League that fortified their squads.

The Blue Jays signed Dylan Cease and Kazuma Okamoto to offset losing Bo Bichette. The Red Sox signed Ranger Suárez and traded for Sonny Gray to compensate for the departure of Alex Bregman. The Orioles, eager to get back into the pool of contenders, signed Pete Alonso and traded for Taylor Ward and Shane Baz. As for the Yankees? They overpaid Trent Grisham, acquired Ryan Weathers and re-signed some veterans in Ryan Yarbrough, Amed Rosario and Paul Blackburn. Even paired with the return of Bellinger, those are not moves that will instill much confidence in the fan base.

Bellinger’s return seems like the absolute bare minimum for New York. GM Brian Cashman better have a few more moves up his sleeves, because as it stands now, the Yankees don’t look like the best team in the American League, let alone a real threat to dethrone the Dodgers.

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