Not long after Bo Bichette’s introductory press conference with the New York Mets began, some headline-grabbing news leaked about the other team in the Big Apple.
The New York Yankees agreed to terms on a five-year deal with Cody Bellinger, bringing back the outfielder after a successful season in the Bronx and ending what felt like a winter full of posturing between the two sides.
In many ways, it always felt like Bellinger was destined to remain a Yankee. The fit was just too good for both sides to pass up, and now that the deal is reportedly done, it removes the best remaining position player from the free agent market.
Here’s a closer look at the contract and what it means.
The deal:
Cody Bellinger agrees to terms with the New York Yankees on a five-year, $162.5-million deal. The contract includes a $20-million signing bonus, a full no-trade clause and opt-outs after the second and third seasons, according to reports.
The runners up:
Once the Mets added Bichette and his impact bat, it seemed to remove the club from the Bellinger sweepstakes. If there was any doubt about that, their Tuesday night trade for outfielder Luis Robert Jr. underlined where general manager David Stearns was at.
With the Mets out of the picture, it’s very likely that the market for Bellinger didn’t exist outside of the Yankees. The Toronto Blue Jays had been connected to the outfielder in the days after losing out on free-agent Kyle Tucker, but their true interest level wasn’t known.
The Yankees are said to have been firm in their negotiation with Bellinger and agent Scott Boras, making what was a final offer a few days ago and refusing to be drawn into any bidding for him, per Bob Klapisch of the Newark Star-Ledger.
The player:
Bellinger’s career arc has been an interesting ride. The left-handed hitter debuted in 2017 with the Los Angeles Dodgers and took home National League Rookie of the Year honours after a 39-home run, .933-OPS season.
Two years later, he had ascended to even greater heights when he posted 8.7 wins above replacement, won a Gold Glove and captured the NL MVP award.
That was immediately followed by three down years with the Dodgers, prompting the club to non-tender him after the 2022 campaign. Bellinger resurrected his career with two strong seasons for the Chicago Cubs before being dealt to the Yankees in December 2024.
He went on to enjoy an excellent campaign batting primarily out of the Nos. 3 and 4 spots of the Yankees lineup. Bellinger batted .272/.334/.480, and his 5.1 WAR, 29 homers and 152 games played represented his best marks in each of those categories since his 2019 MVP season.
The 30-year-old is as well-rounded a player as you’ll find. He’s a strong contact hitter with good power and has reverse platoon splits, faring better against left-handed pitchers than he does right-handers (1.016 OPS versus .741 OPS in 2025).
Beyond that, Bellinger is a solid baserunner with good speed and provides excellent defence with the ability to play all three outfield positions in addition to first base. Last season, Bellinger played 85 games in left field, 52 in right, 41 in centre and seven at first. That type of flexibility proved a major asset for manager Aaron Boone, allowing him to slide Aaron Judge into the DH spot as well as deploy optimal defensive alignments in the outfield.
The fit:
Bellinger fit so well with the Yankees last year that it was hard to imagine the two sides not coming to an agreement. It’s not easy to perform in the pressure-cooker that is the Bronx — just ask Anthony Volpe or Alex Verdugo — yet Bellinger handled himself with aplomb after GM Brian Cashman acquired him as part of the club’s contingency plan when it failed to re-sign Juan Soto.
Often protecting Judge in the lineup, Bellinger was a key cog in what turned out to be a lethal offence. The Yankees led MLB with 274 home runs and 849 runs and are bringing back essentially the same group of hitters in 2026. It’s an impressive group that includes the reigning AL MVP in Judge, as well as the emergent Ben Rice, dynamic Jazz Chisholm and powerful Giancarlo Stanton.
It’s easy to envision the Yankees' offence being great again, and that will be one of the factors that ultimately decides the fate of what should be a very competitive AL East.
Retaining Bellinger was the No. 1 off-season priority for the Yankees, and now the club can focus on strengthening other areas, such as a bullpen that lost Devin Williams and Luke Weaver to the Mets.
The Yankees acquired talented left-hander Ryan Weathers in a trade with the Miami Marlins earlier this month, adding depth to a rotation that’ll be without Gerrit Cole and Carlos Rodon for the opening months of the season. Both starters are on track to return from their elbow surgeries, though, and could solidify an impressive rotation that also includes Max Fried, Cam Schlittler, Will Warren and Luis Gil.
The market:
MLB Trade Rumors predicted Bellinger would net a five-year, $140-million deal. He received that term but bested the value by $22.5 million.
The next domino:
Bellinger was the last big domino to fall among free agent position players. The next tier on the board features players such as Eugenio Suarez, Harrison Bader and Luis Arraez. That’s a talented group, for sure, but they won’t be able to provide the type of impact that a Bellinger or a Bichette can.
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