Why Yankees Haven't Signed Cody Bellinger Yet

The New York Yankees are in the market for an outfield slugger, and have reportedly decided a reunion with Cody Bellinger fits the bill. That's made many Yankees fans wonder: just why haven't they been able to reach an agreement?

According to Bleacher Report's Kerry Miller, Bellinger has yet to sign because teams looking to sign a big-name outfielder to the kind of contract he's looking for are more likely looking for someone like Cubs star Kyle Tucker.

"That doesn't necessarily mean he won't sign until after Kyle Tucker signs, but it probably does behoove him to wait, in hopes that the offers will increase once he's the clear belle of the ball and teams become more desperate to not need to settle for someone like Max Kepler or Michael Conforto in an everyday outfielder role," Miller wrote.

Cody Bellinger Asking for Too Much?

While a massive contract ask is a hold up, and has been for Tucker's team as well, Miller went on to say that the true problem is Bellinger's inconsistent performances the past few years.

"It'd be one thing to go all-in on Tucker, who is 18 months younger than Bellinger, who has been worth at least 4.6 bWAR in five consecutive years and who has never had an OPS below .800 in a season with at least 100 plate appearances. But going a fully guaranteed five or more years for a whack-a-mole type of player like Bellinger is a scarier proposition."

Aug 19, 2025; St. Petersburg, Florida, USA; New York Yankees left fielder Cody Bellinger (35) rounds the bases after hitting a solo home run in the first inning against the Tampa Bay Rays at George M. Steinbrenner Field. Mandatory Credit: Jonathan Dyer-Imagn Images | Jonathan Dyer-Imagn Images

While Bellinger had a stand out 2025 with the Yankees, slashing .272/ .334/ .480 for an OPS of .814 and slamming 29 home runs, his 2024 numbers are worse than that. In fact, the last time he offered an OPS above .800 was in 2023, his first year with the Chicago Cubs after a dismal final two seasons with the Los Angeles Dodgers in 2021 and 2022. It's a big risk for a team to sign an aging player who has had such up and down performances.

However, Bellinger is still a hot commodity. As Miller pointed out, the market for outfielders has two extremes. Bellinger and Tucker sit at one end, at very excellent, but high priced, while others are easier to get, but not nearly as splashy.

According to other reports, no team has come close to offering Bellinger the kind of contract his manager, Scott Boras, has been demanding. While Bellinger choosing to execute his player option will certainly work in his favor after a great 2025 season, it may be some time before he re-signs with the Yankees or has a new club.

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