NEW YORK, NEW YORK – MAY 17: Cody Bellinger #35 of the New York Yankees rounds the bases after hitting a home run against the New York Mets during their game at Yankee Stadium on May 17, 2025 in New York City. (Photo by Al Bello/Getty Images)
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The New York Yankees are actively pursuing free agent Cody Bellinger as the outfielder/first baseman left a favorable impression after one productive season in the Bronx. Bellinger’s defensive versatility, offensive skills and calm demeanor are desirable assets as the Yankees are facing tough competition from at least three franchises who are also interested in the two-time National League Silver Slugger Award winner: Los Angeles Dodgers, New York Mets and Toronto Blue Jays. Bellinger is a unique free agent as he aligns perfectly with championship-caliber franchises in large media markets given the success he has achieved while playing in Chicago, Los Angeles and New York. After being non-tendered by the Dodgers in November 2022 due to three disappointing seasons, the 2019 National League Most Valuable Player Award winner reinvented himself and is enjoying a mid-career renaissance. As the demand for Bellinger’s services will likely produce multiple nine-figure contract offers for him to consider, expect statistical evidence and the value of playing home ball games at Yankee Stadium as a left-handed hitter to carry significant weight in the decision-making process.
Yankees Must Stretch Budget For Cody Bellinger
It’s not often that a 30-year-old ball player with an extensive injury history can confidently decline a $25 million player option with a $5 million buyout while playing for the Yankees. Bellinger’s agent, Scott Boras, is selling a five-tool ball player who has demonstrated consistency as an elite performer over the past three seasons. There’s also a sense of unfinished business given how Boras couldn’t secure a nine-figure contract for Bellinger in two previous experiences in free agency. In February 2024, Bellinger signed a three-year, $80 million contract with the Chicago Cubs that included two player options at a combined value of $52.5 million according to Cot’s Baseball Contracts. If the Yankees are serious about a reunion with Bellinger, the cost for his services could reach $180 million with an average annual value of $30 million.
Boras’ brilliance as an agent is evident in how he creates a market for his clients. The Yankees cannot get caught up in Boras’ methodical approach to contract negotiations as swift and decisive action is needed when it comes to Bellinger. The response to Trent Grisham accepting the qualifying offer of one-year, $22.025 million has been lukewarm since it represents an increase in salary of $17.025 million for the 29-year-old center fielder as concerns have been raised whether he is worth the investment. Hal Steinbrenner, managing general partner and co-chairperson, has previously made comments regarding the unsustainability of a payroll exceeding $300 million even as revenues for the 2024 season reached $728 million according to Forbes.
NEW YORK, NEW YORK – OCTOBER 07: Cody Bellinger #35 of the New York Yankees fails to catch a ball hit by Daulton Varsho #5 of the Toronto Blue Jays (not pictured) during the third inning in game three of the American League Division Series at Yankee Stadium on October 07, 2025 in the Bronx borough of New York City. (Photo by Ishika Samant/Getty Images)
Getty ImagesYankees Are Confronting Left Field Questions
While Bellinger remains a top priority, there are legitimate questions as to who will play a variety of positions, especially left field. Pressure is mounting on the 22-year-old Jasson Domínguez given how the franchise is reexamining the position of international scouting director after a series of costly investments that have failed to consistently produce major league talent. In July 2019, Domínguez received a franchise-record $5.1 million signing bonus as a 16-year-old baseball prodigy from the Dominican Republic. If Bellinger signs elsewhere, expect Domínguez to be competing against outfield prospect Spencer Jones in spring training. Youth and inexperience are still evident in Domínguez, but the Yankees cannot have a left fielder produce a -9 fielding run value (FRV) regardless of age.
Bellinger’s career resurgence was enhanced by the aura of the venerable pinstripes. He quickly found a home with the Yankees and was the antithesis of the franchise’s infatuation with one-dimensional ball players who worship at the altar of baseball’s three true outcomes: home runs, base on balls and strikeouts. Besides familial ties to the Yankees courtesy of his father, Bellinger was embraced by the fans who appreciated his work ethic, professionalism and ability to play multiple positions. Whether it was the diving catches in the outfield, accuracy of his throwing arm or adept baserunning, Bellinger was a multi-faceted weapon who thrived offensively while playing at Yankee Stadium.
Yankees Value Offensive Success At Home
Bellinger’s attractiveness begins with defensive versatility, but don’t overlook his offensive success while playing 80 ball games at Yankee Stadium last season. As the ballpark has often been criticized because of its hitter-friendly dimensions, Bellinger was an entirely different ball player in the Bronx than he was on the road. According to FanGraphs, Bellinger posted a weighted runs created plus (wRC+) of 152 at Yankee Stadium in comparison to 97 wRC+ over 72 ball games on the road. Bellinger was 52 percentage points above league average (100) at home and was one of 12 qualified outfielders in Major League Baseball who posted a minimum 125 wRC+ last season. It’s an important observation given how wRC+ is a rate statistic that credits a hitter for the value of each outcome while adjusting for ballpark effects amid the current run environment.
TORONTO, ONTARIO – OCTOBER 04: (L to R) Cody Bellinger #35, Trent Grisham #12, and Aaron Judge #99 of the New York Yankees react during the seventh inning of game one of the Division Series against the Toronto Blue Jays at Rogers Centre on October 04, 2025 in Toronto, Ontario. (Photo by Mark Blinch/Getty Images)
Getty ImagesYankees Value Success Versus Left-Handed Pitchers
In terms of on-base plus slugging (OPS), Bellinger’s .909 OPS at Yankee Stadium was 194 points higher than it was on the road (.715) according to Baseball-Reference. The left-handed Bellinger (1.016) was one of six ball players based on a minimum of 100 plate appearances who had an OPS of at least 1.000 versus left-handed pitchers according to FanGraphs. By capitalizing on the hitter-friendly ballpark dimensions in the Bronx, Bellinger posted a 1.113 OPS in 93 plate appearances versus left-handed pitchers at Yankee Stadium.
Offensive metrics provided by Statcast underestimate Bellinger’s value. Don’t expect to see him among the league leaders in barrels, exit velocity or average bat speed as Bellinger excels in competitive swings and contact percentage. Among his 11 former teammates who qualified for the minimum batted ball event (BBE) last season, only utility ball player José Caballero (36.5%) posted a lower hard-hit percentage than Bellinger (37.9%). However, Statcast portrays Bellinger as an excellent outfielder courtesy of fielding run value (FRV), an overall metric that captures a ball player’s measurable defensive performance and incorporates it into a run-based scale.
The New York Yankees must be deliberate and direct in their negotiations with Scott Boras regarding Cody Bellinger’s free agency. Yankee Stadium aligns perfectly with Bellinger’s offensive style as a left-handed hitter and the ballpark would allow him to age gracefully as performance declines over time. A reunion with Bellinger not only provides defensive versatility but presents the Yankees with an opportunity to entertain blockbuster trade proposals involving Jasson Domínguez and pave the way for Spencer Jones in 2027 after the expiration of Trent Grisham’s contract. Even though Bellinger is the linchpin to the Yankees’ offseason plans, he must be the first in a series of creative transactions that revitalize the franchise’s roster after another early exit from the postseason.