NEW YORK – The Yankees have drawn their line in the sand. After months of negotiations with Cody Bellinger, the board has made a crucial internal decision. They won’t pursue the star outfielder in a bidding war.
This position comes at a critical moment. The Mets just signed Bo Bichette for $126 million. Kyle Tucker signed with the Dodgers for $240 million. Bellinger remains the best unsigned position player on the market.
The Yankees believe they have been more than fair. Now the ball is in Scott Boras’s court.
Yankees refuse to enter bidding war
NJ.com’s Bob Klapisch reported Sunday that the Yankees have made a firm decision. They will maintain their current offer.
“The Yankees have made an internal decision not to engage in a bidding war for Cody Bellinger if the Mets or anyone else swoop in with an exorbitant offer,” Klapisch wrote.. «The Yankees believe they have made a fair proposal. Five years, $160 million, two termination options. “They are willing to let Bellinger go.”
The message to the Bellinger camp is unmistakable. Take it or leave it.
Steinbrenner will not burn again
Owner Hal Steinbrenner hasn’t forgotten what happened to Juan Soto. The Yankees offered $750 million last winter. The Mets offered 765 million. Soto went to Flushing.
Running out of $15 million continues to sting in the Bronx. The front office seems determined not to be dragged into another escalating auction.
For now, Steinbrenner has decided he’s gone too far with Bellinger. Talks with Boras stalled last week after the two sides came closer on the annual average value. They reportedly agreed to approximately $32 million a year.
But then came the breakdown of the agreement. Boras still wants seven years. The Yankees don’t move from five.
‘Okay, take it, good luck’
A Major League source bluntly explained the Yankees’ position.
“If (Boras and Bellinger) can do better, the Yankees’ attitude is, ‘Okay, take it, good luck,'” the source said this weekend.
The Yankees have an angle. They believe there is no market interest in Bellinger in seven years.
They like Bellinger. He gets along well with everyone in the franchise. He is especially popular in the club. He is skilled in four positions. His swing is perfect for the short porch of Yankee Stadium. His father, Clay, played for the Yankees.
But still, Bellinger has built a reputation as an MLB star. Not like a superstar. That’s why the Yankees stand firm.
The five-year, $160 million package
The Yankees have improved their offer in recent weeks. The five-year package now amounts to $160 million. Includes two termination clauses after years two and three.
The agreement does not contain deferred money. Includes a significant signing bonus. The average annual value is 32 million dollars per season.
The Athletic’s Brendan Kuty confirmed the opt-out structure this weekend. The Yankees consider it a fair commitment to a player entering his age-31 season.
They believe the time for a longer-term deal would have been when Bellinger was 20 years old. That’s when he was one of the Dodgers’ best players.
The Mets are still a threat
The Mets have not backed down despite signing Bichette. Will Sammon of The Athletic reported that Steve Cohen’s club remains interested in Bellinger.
His preference would be another short-term deal. Think three or four years at a higher AAV. That approach fits with David Stearns’ preference for roster flexibility.
Snatching Bellinger from the Yankees would solve the Mets’ need for a left fielder. It would also bring the dividend of outbidding the Yankees for the second year in a row.
Cohen has not hesitated to outbid the Yankees when he wanted a player.
Bellinger’s strong 2025 season
The 30-year-old proved his worth in the Bronx during 2025. He hit .272 with 29 home runs and 98 RBIs. He added 89 runs, 13 stolen bases and posted an .813 OPS in 152 games.
The short porch of Yankee Stadium became his best friend. He launched 18 of his 29 home runs at home. In the Bronx he hit .302/.365/.544 with a .909 OPS. Almost 200 points more than away from home. Almost 200 points more than at home.
Bellinger hit .348 with runners in scoring position last year. Eight points more than Aaron Judge.
His defense saved runs at several positions on the field. His left-handed bat balanced a right-handed lineup. His veteran presence complemented Judge on the club.
The Yankees have internal options
If Bellinger leaves, the Yankees have young talent waiting. The plan would be to give Jasson Domínguez a chance as an everyday left fielder. Trent Grisham would have to repeat his 34-home run season from 2025.
Top budding player Spencer Jones is expected to make his MLB debut sometime in 2026. That combination may not be enough for another 94 wins. But management believes the core is there.
The Yankees have also focused their attention on the transfer market. They maintain great interest in Brewers starter Freddy Peralta.
Someone has to blink
Spring training begins in about five weeks. Time is running out.
The Yankees have a hunch that Boras will eventually see the light. It wouldn’t be the first time that the superagent misread the market. Pete Alonso lasted until February 12 of last year. Blake Snell was not signed until March 19, 2024.
Losing Bellinger would hurt. But management has drawn its line. Steinbrenner is convinced he has offered enough. Either Bellinger accepts, or the Yankees move on.
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