Yankees Improve Cody Bellinger Offer, Still Not Big Enough

Despite seemingly upping their offer, the New York Yankees and Cody Bellinger appear no closer to finding common ground on a new deal.

According to The Athletic's Brendan Kuty, the Yankees' most recent proposal to Bellinger was worth over $30 million over multiple years. The issue, however, is that the outfielder and his camp are seeking a seven-year pact.

The New York Yankees’ latest multi-year contract offer to free-agent outfielder Cody Bellinger featured an average annual value of more than $30 million a year as Bellinger’s camp continued to push for seven years, multiple sources briefed on the ongoing talks toldThe Athletic," Kuty wrote.

Oct 5, 2025; Toronto, Ontario, CAN; New York Yankees left fielder Cody Bellinger (35) rounds the bases after hitting a home run in the sixth inning against the Toronto Blue Jays during game two of the ALDS round for the 2025 MLB playoffs at Rogers Centre. Mandatory Credit: Kevin Sousa-Imagn Images | Kevin Sousa-Imagn Images

Where Bellinger Stands with Yankees

With over a month remaining before spring training begins, the fact of the matter is that Bellinger holds a decent amount of leverage considering there's no urgency to sign a deal.

It's not like the Yankees themselves need to act quickly either, though, as Kyle Tucker and Bo Bichette both remain on the market as potential pivots if Bellinger were to find a suitable contract elsewhere and officially depart the organization after just one season.

Bellinger declined a $25 million player option at the start of the offseason and has drawn interest from several big-league clubs during his stay on the open market, with the crosstown New York Mets looming as possibly the most likely landing spot for him outside of the Yankees.

The Los Angeles Dodgers, where Bellinger began his career and whom he won the 2019 National League MVP Award with, as well as the San Francisco Giants and Chicago Cubs, who traded him in the Yankees last offseason, have also registered interest in the 30-year-old, per the New York Post's Jon Heyman.

Cubs checked in on old friend Cody Bellinger. They’re also known to be in touch with Bregman, Bichette and other top players. The incumbent Yankees remain in talks with Bellinger, their stated No. 1 priority. Mets, Dodgers, Giants are among others showing interest in Bellinger.
— Jon Heyman (@JonHeyman) January 4, 2026

What if Yankees Don't Re-Sign Bellinger?

As previously mentioned, the Yankees could still make a big splash in the form of adding either Tucker or Bichette if they refuse to meet Bellinger's demands.

Adding a big-name player beyond Bellinger doesn't seem super likely at this point in time, though, with Bichette set to have a meeting with the Philadelphia Phillies next week while the Toronto Blue Jays, Dodgers and Mets all seem to have their sights set on Tucker.

The Yankees' outfield is well-stocked with the likes of back-to-back AL MVP Aaron Judge, Trent Grisham, Jasson Dominguez and even top prospect Spencer Jones, who should make his MLB debut early in the season, but Bellinger's success in 2025 coupled with his versatility and defensive prowess makes him a strong fit for the club.

It would certainly sting if Bellinger were to leave depending on the price tag, and amidst a surprisingly quiet offseason, there is some level of pressure on the Yankees to close the deal at some point.

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