Yankees are Smiling as Cody Bellinger Gets Hit With Stark Reality Check

The New York Yankees entered the offseason knowing that their top priority was to re-sign Cody Bellinger, but the prevailing thought was that the Yankees would face stiff competition for his services.

The New York Mets, Los Angeles Dodgers, Toronto Blue Jays and Philadelphia Phillies — among others — were all viewed as prime potential destinations for Bellinger, who slashed .272/.334/.480 with 29 home runs and 98 RBI over 656 plate appearances in 2025.

But is it possible that Bellinger's market is not as robust as we were led to believe?

ESPN's Jeff Passan recently noted the the Yankees are "not budging" on what they are willing to offer Bellinger in free agency, and evidently, other teams aren't beating down Bellinger's door to sign him to a lucrative long-term contract, either.

This has turned into a staring contest between the Yankees and the Scott Boras client, and it's one that New York currently appears to be winning.

There are obvious reasons for concern when it comes to Bellinger.

He's 30 years old with an injury history, and while he won an NL MVP award with the Dodgers back in 2019, he has only had two really good seasons since then.

And let's be honest: for as good as Bellinger was for the Yanks this past year, he was just that: good. He wasn't spectacular nor elite.

Yes, the Yankees would like to have him back, and yes, they would be in some trouble if he departs. The idea of Jasson Dominguez starting every day in left field shouldn't excite anyone.

But you can also understand why New York may not want to had Bellinger a seven-year deal worth upward of $200 million.

The Yankees just experienced a similar situation with D.J. LeMahieu, whom they re-signed on a six-year, $90 million pact in January 2021 only to watch as the former batting champion fell off a cliff and was ultimately released by New York during the second half of 2025.

And that was only $90 million. Imagine that happening to Bellinger over $200 million?

As it stands, the Bronx Bombers are certainly happy with how the Bellinger market is unfolding. There is clearly a disconnect between what Bellinger feels he is worth and what the rest of the market is actually saying. Big surprise for a Boras client, right?

The Yankees would probably prefer to re-sign Bellinger on something like a five-year, $150 million contract. Maybe they would be willing to add a sixth year, but even that would be a lot for a New York squad that has closely been monitoring its payroll in recent seasons.

I still think the Yankees are the favorites to land Bellinger, but this isn't a Juan Soto type of situation where Hal Steinbrenner will be willing to put out all of the stops to retain him. And it doesn't look like Steve Cohen's Mets or other big-money franchises are angling to do so, either.