Yankees Win Cody Bellinger War, Re-Sign OF

At long last, the moment New York Yankees fans have been waiting for — or dreading — has arrived. The Pinstripes have re-signed outfielder Cody Belligner to a five-year deal worth $162.5 million to bring the 2019 NL MVP back to the Bronx, per ESPN's Jeff Passan.

BREAKING: OF/1B Cody Bellinger and the New York Yankees are in agreement on a free agent contract, sources tell ESPN.
— Jeff Passan (@JeffPassan) January 21, 2026

Passan went on to add that Bellinger will receive a $20 million bonus and that his contract includes a full no-trade clause and opt outs after the second and third seasons.

The news puts to rest the biggest story of New York's offseason. While the Yankees had many holes to plug, including both in the starting rotation and the bullpen, their main focus was adding the heavy-hitting outfielder. After putting forth a couple offers that were not accepted, wild rumors swirled that the Pinstripes would instead pursue players like Kyle Tucker, who eventually signed with the Los Angeles Dodgers.

The signing represents the Yankees' biggest deal of the offseason so far. While they also traded four prospects for former Miami Marlins starting pitcher Ryan Weathers, much of the plan hinged on Bellinger's re-signing. He'll join superstar and Yankees captain Aaron Judge in the outfield, along with Trent Grisham, who agreed to a one-year, $22 million qualifying offer.

Despite the naysayers, the Yankees stuck with their gut and re-signed their guy. Bellinger and his manager, notorious tough negotiator Scott Boras, were reportedly originally seeking an even longer deal, but were likely pushed into accepting something shorter by Tucker's four-year contract. The Yankees stood firm on their offer for five years at $160 million, which is still risky for a player that has seen inconsistencies and will turn 31 in the middle of next season.

Cody Bellinger's Inconsistencies Raised Alarm Bells

Bellinger had a stand out year in 2025 with the Yankees, slashing .272/ .334/ .480 for an OPS of .814 and smacked 29 home runs. However, his performance can really waver. 2021 saw him with a .165 batting average and just 10 homers (though he only played 95 games) with the Dodgers. In 2022, Bellinger slashed .210/ .265/ .389 for an OPS of .654 despite playing nearly every game that season, continuing the disappointing trend.

New York Yankees center fielder Cody Bellinger — Oct 5, 2022; Los Angeles, California, USA; Los Angeles Dodgers center fielder Cody Bellinger (35) rounds the bases after hitting a solo home run in the seventh inning against the Colorado Rockies at Dodger Stadium. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images | Jayne Kamin-Oncea-Imagn Images

Those numbers lead the Dodgers to allow Bellinger to join the Chicago Cubs as a free agent in 2023. He won Comeback Player of the Year that season, hitting 26 home runs and slashing .307/ .356/ .525 for an OPS of .881. Now, the Yankees seem keen to believe he can maintain his 2025 numbers for another five years.

Hopefully for the Yankees faithful, Bellinger becomes more consistent and can deliver another nearly 30 home run season. If not, the team will be in hot water as they're holding on to him until YEAR.

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