As the dust settles in Philadelphia after a tough week for Phillies fans, there’s still a glimmer of hope that the front office might have one more big swing left in them before the offseason wraps. Bo Bichette’s surprise move to the Mets left plenty of folks in red pinstripes stunned-and maybe a little bitter. But now, there’s a chance for the Phillies to turn the tables with a bold counterpunch: enter Cody Bellinger.
The latest buzz coming out of New York suggests the Yankees are stepping back from the Bellinger sweepstakes, leaving the door cracked open for another team to swoop in. And that includes the Phillies.
According to multiple reports, the Yankees have put a five-year, $160 million offer on the table-with two opt-outs-but they’re not planning to get into a bidding war. If another club comes in hot with a bigger number, they’re ready to let Bellinger walk.
That’s a significant development, especially considering Bellinger spent last season in the Bronx. But it doesn’t sound like he or his agent, Scott Boras, are feeling particularly sentimental. They’ve got their eyes on a bigger payday-reportedly seeking a seven-year deal in the $250 to $260 million range, which would land him in the $36 to $37 million per year neighborhood.
Now, is Bellinger worth that kind of money? That’s a fair question.
He had a strong bounce-back year in 2025, slashing .272/.813 with 29 homers, 98 RBIs, and a 4.9 fWAR. That’s the kind of production that can anchor a lineup.
But it’s also worth noting that from 2020 through 2024, he averaged just 1.7 fWAR-a far cry from the 7.8 fWAR he posted during his MVP campaign in 2019. Outside of his 2023 season with the Cubs (4.4 fWAR), last year was the first time in a while that Bellinger looked like the player he once was.
Still, in today’s market-where Kyle Tucker just signed for $60 million AAV and Bichette landed $42 million per year-Bellinger’s ask doesn’t feel entirely out of step. Whether it’s wise is another story, but the Phillies do have some financial flexibility after missing out on Bichette. That deal would’ve cost them $200 million over seven years, so the money is theoretically there.
And let’s be honest: the Phillies’ outfield could use a serious upgrade. As things stand, they’re rolling into the season with Brandon Marsh, top prospect Justin Crawford, and veteran slugger Adolis García.
That trio has potential, but it’s also projected to be one of the weakest outfield groups in the league. It’s been a soft spot for a few seasons now, and it doesn’t look like that’s changing unless the team makes a move.
The big question is whether Dave Dombrowski, the Phillies’ president of baseball operations, is willing to make that kind of move-and whether he can get the green light from managing partner John Middleton. The Phillies’ payroll is already pushing an estimated $317 million, and they’ve reportedly been eyeing a 2026 payroll closer to the fourth luxury tax threshold of $304 million.
Adding Bellinger would likely push that number well past $350 million, especially if they keep J.T. Realmuto’s $15 million AAV and Alec Bohm’s $10 million salary on the books.
That kind of spending would be aggressive, even for a team that’s proven willing to spend big in recent years. But adding Bellinger wouldn’t just be about flexing financial muscle-it would be about addressing the team’s most glaring weakness and making a statement.
And if that statement just so happens to come at the expense of the Mets? Well, that’s just the cherry on top.