If Yankees fans are looking for clarity on the Cody Bellinger situation, Jeff Passan just gave them a reality check - no fluff, no sugarcoating.
With the Winter Meetings just around the corner, Passan laid out a 10-point watch list on Threads late Sunday night. And item No.
3? All eyes on Bellinger.
While there’s been plenty of buzz suggesting the Yankees are locked in on bringing him back as their top offseason priority, Passan isn’t buying that it’s a done deal. In fact, he sees the door wide open for other contenders - namely the Dodgers, Phillies, Mets, and potentially a few surprise suitors - to make a serious push for the former MVP.
So what’s driving that uncertainty? It starts with the Trent Grisham decision.
The Yankees extended Grisham a $22 million qualifying offer - and he accepted. Publicly, the front office has maintained that they anticipated this possibility and that it won’t interfere with their pursuit of Bellinger.
And maybe that’s true in a vacuum. But in the real world of roster construction and payroll management, that $22 million is going to impact something.
If it’s not Bellinger, it’s likely to affect another free-agent target or internal decision.
And it doesn’t stop there. Grisham’s return also complicates things for the Yankees’ outfield depth chart - especially when you factor in the presence of Aaron Judge and two highly touted prospects in Jasson Domínguez and Spencer Jones.
As Passan pointed out, it’s hard to imagine the Yankees entering 2026 with a crowded outfield of Grisham, Bellinger, Judge, Domínguez, and Jones. Something’s got to give.
That “something” could be a pivot away from Bellinger. Or it could be a willingness to part with one of the young outfielders to make room. Either way, bringing Bellinger back isn’t as simple as just writing a check - it’s a multi-layered decision that could ripple across the roster.
And then there’s the financial piece. Hal Steinbrenner has publicly stated that it would be “ideal” to lower the team’s payroll heading into next season.
That’s a lot easier to accomplish if you’re not carrying three outfielders making north of $20 million each. Relying on Domínguez and Jones, two promising homegrown talents, would offer a much cheaper path forward - and potentially a more sustainable one.
At the end of the 2024 season, Bellinger may have felt like the more attainable target compared to someone like Juan Soto. His bat-to-ball skills, defensive versatility, and ability to complement Judge without breaking the bank made him a logical fit.
But logic has a way of reshuffling the deck. If the Yankees are serious about trimming payroll and leaning into their youth movement, then either Bellinger is out - or one of the kids is.
The Yankees still have options. But the path to Bellinger isn’t as clear as it once seemed. And with the Winter Meetings heating up, the clock is ticking.