Since the beginning of the offseason, the Yankees made no secret of the fact that bringing back Cody Bellinger was their top priority. And they finally achieved that goal on Wednesday, reaching a five-year agreement with the gunboat, a source told MLB.com’s Mark Feinsand.
The Yankees previously re-signed outfielder Trent Grisham, Dominican infielder Amed Rosario and pitchers Ryan Yarbrough and Paul Blackburn. They also traded for pitcher Ryan Weathers and signed infielder Paul DeJong to a minor league contract.
With Bellinger also returning, much of the Yankees’ offseason work is complete, although another move for a starter cannot be ruled out.
With Gerrit Cole and Carlos Rodón scheduled to miss Opening Day, the Yankees have been frequently linked to Brewers ace Freddy Peralta, even after acquiring Weathers from the Marlins.
Bellinger’s contract will put the Yankees above the fourth Competitive Balance Tax threshold of $304 million, but with Peralta making just $8 million in 2026 (his last year before free agency), they could still have room in their budget for the right-hander.
Bellinger’s return could also give the Yankees more leeway to move one of their young outfielders in a trade, whether it’s Jasson Dominguez or prospect Spencer Jones.
