Yankees Payroll After Cody Bellinger Blows Past Reported Budget

The New York Yankees are already looking at a spendy 2026.

Oct 1, 2025; Bronx, New York, USA; New York Yankees left fielder Cody Bellinger (35) reacts after flying out during the third inning against the Boston Red Sox during game two of the Wildcard round for the 2025 MLB playoffs at Yankee Stadium. Mandatory Credit: Brad Penner-Imagn Images | Brad Penner-Imagn Images

The New York Yankees have finally inked a deal to bring Cody Bellinger back to the Bronx for the next five years, but where does that leave payroll for the upcoming season?

Gary Phillips of the New York Daily News broke down the Yankees' projected 2026 payroll after signing Bellinger to a five year, $162,.5 million deal.

"According to FanGraphs, the Yankees’ projected CBT payroll for 2026 is now at $317.8 million. Cot’s Contracts, meanwhile, has the club at $320.1 million," he wrote. "That ranks third behind the Dodgers ($402.5M) and Mets ($375.9M). The Phillies ($316.3M) and Blue Jays ($304.1M) round out the top five."

Yankees owner Hal Steinbrenner reportedly wanted to lower the Yankees payroll from where it was in 2025 (around $319 million), with a target of getting it below the competitive balance tax number of $306 million. With Bellinger's deal, that seems completely off the table, even if no other major moves are made.

Will the Yankees Avoid Signing Players to Save Money?

While Steinbrenner acknowledged that trying to lower the Pinstripes' 2025 payroll was more of a goal than a hard rule for the offseason, it's lead many fans to worry that the Yankees will stop at adding Bellinger this year.

The Yankees did something similar last year at third base, starting the season without a clear solution. While they managed to get Ryan McMahon in a trade with the Colorado Rockies, its entirely possible trying to make a deal earlier in the year could have netted them a better bat, like Eugenio Suarez (though McMahon's defense is certainly better than Suraez's).

Oct 8, 2025; Bronx, New York, USA; New York Yankees third baseman Ryan McMahon (19) makes a catch during the seventh inning against the Toronto Blue Jays during game four of the ALDS round for the 2025 MLB playoffs at Yankee Stadium. Mandatory Credit: Vincent Carchietta-Imagn Images | Vincent Carchietta-Imagn Images

However, the Yankees' needs headed into 2026 are far different than in 2025. Sure, they could use another top of the line starting pitcher while Carlos Rodón and Gerrit Cole recover from their respective surgeries, but both should be back before the All-Star break. The Yankees are also hurting for more reliever depth, though the closer market isn't very hot. Neither of those positions are in as much limbo as third base was last year.

While New York may not make any more splashy signings, they might not need to. Their budget certainly won't match that of the Dodgers, who are keen to sign the biggest free agents they can, regardless of the coast, but that shouldn't necessarily be worrying, even if ownership has mentioned wanting to keep costs low.

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