The Yankees’ offseason has been anything but smooth, and with Spring Training creeping closer, the Cody Bellinger situation is still hanging in the balance. We’re just over a month away from live games in Tampa, and the clock is ticking - not just for the Yankees, but for Bellinger too.
This isn’t the first time Bellinger has taken his time. Just last year, he signed on February 28 and struggled out of the gate, hitting below .200 in his first 25 games with a 57 wRC+.
But once he found his rhythm, he turned in a strong season, posting an .857 OPS the rest of the way. That slow start, though, is a reminder of what can happen when a player’s ramp-up time is cut short - and it’s something both sides would prefer to avoid this time around.
Meanwhile, the Yankees aren’t the only team circling. The Mets are lurking, and while they haven’t made a formal move, they’re a real threat to jump in if the Yankees don’t close the deal soon.
The pressure’s mounting in the Bronx - and it’s not just about adding a bat. It’s about making a statement.
Why the Yankees Need Bellinger Back
Let’s be clear: Cody Bellinger isn’t just a luxury piece for this Yankees roster - he’s a need. The American League landscape nearly shifted in a big way this offseason.
Kyle Tucker was linked to the Blue Jays for a while, and Bo Bichette had a murky market until the Phillies and Mets started sniffing around. Neither ended up in Toronto, and unless something changes drastically, the Blue Jays appear to be done making big moves.
Boston, on the other hand, is still a wildcard. They’ve got the pieces to swing a trade, especially after picking up Ranger Suárez. But the subtraction of Alex Bregman leaves a hole, and it’s unclear how aggressive they’ll be in filling it.
That brings us back to the Yankees, who are staring at a roster with two of their weakest projected positions being left field (2.1 WAR) and designated hitter (1.5 WAR), according to FanGraphs. Bellinger doesn’t just patch one of those spots - he impacts both. His versatility gives the Yankees flexibility in the outfield and depth at DH, while also adding a left-handed bat that balances out their righty-heavy lineup.
More importantly, Bellinger gives the Yankees a path back to serious contention. Without him, their pivot options are slim.
There’s no comparable free agent left on the board, and a trade would likely cost them from a farm system that isn’t exactly overflowing with elite talent. This isn’t like the Juan Soto situation, where the Yankees made a December decision and still had a loaded free agent class to work with.
This is different. This is Bellinger-or-bust.
And while a five-year, $155 million offer might feel like an overpay on paper, it’s the kind of move a team makes when it’s trying to win a title - not just compete.
Why the Yankees Should Still Hold the Line
Now, here’s where things get tricky. The Yankees know they need Bellinger.
But that doesn’t mean they should cave to every demand. The current offer reportedly includes multiple opt-outs and a sizable signing bonus - the kind of structure that gives Bellinger flexibility and upside without locking the Yankees into a long-term risk.
There’s chatter that the Mets could swoop in with something like the three-year, $126 million structure they just gave Bo Bichette. But for Bellinger, that’s not necessarily a better situation. Citi Field isn’t exactly a hitter’s haven for a lefty like him, and hitting free agency again at age 31 - especially coming off a short-term deal - isn’t ideal if the market cools.
The Yankees’ offer gives him a chance to play in a ballpark that suits his swing, in a lineup that offers protection, and in a city where a big season could skyrocket his value. If he wants a shot at another big payday down the road, the Bronx is the place to do it.
And if Scott Boras is holding out for a seven-year deal, well, that’s where the Yankees have to draw the line. Unless another team steps up with that kind of commitment - and so far, no one has - New York should stay the course. They’ve put a strong offer on the table, one that checks all the boxes short of total length.
The Bottom Line
This is a high-stakes standoff. The Yankees can’t afford to lose Bellinger, but they also can’t afford to blow up their long-term flexibility chasing a deal that no one else is offering. They’ve built their offseason around this move, and now it’s about finishing the job without blinking first.
If Bellinger signs elsewhere, it’s not just a missed opportunity - it’s a potential unraveling of the entire offseason plan. But if the Yankees hold firm and land their guy, they’ll head into 2026 with a roster that looks a lot more like a contender than one still searching for answers.
This is the moment. The Yankees have made their pitch. Now it’s up to Bellinger - and Boras - to decide if the Bronx is where the next chapter begins.