In the ever-changing landscape of Major League Baseball, the New York Yankees have made a significant financial proposal to free-agent outfielder Cody Bellinger. The offer stands at five years, with an annual salary ranging from $31 million to $32 million, totaling between $155 million and $160 million without any deferrals. Moreover, the team has indicated a willingness to negotiate the inclusion of opt-out clauses, as reported by a source familiar with the negotiations who requested anonymity to maintain confidentiality.
Bellinger’s representatives are reportedly seeking a contract that could extend up to seven years, as highlighted by The Athletic last week. Over this past weekend, discussions continued in hopes of bridging the gap between what the Yankees are offering and what Bellinger desires. There remains some uncertainty regarding the precise figure Bellinger is aiming for, but NJ.com’s Bob Klapisch has indicated that he may be looking for an annual salary between $36 million and $37 million. Despite these ongoing dialogues, the Yankees are simultaneously exploring potential trades and examining free-agent options, including infielder Bo Bichette and outfielder Kyle Tucker.
However, a noteworthy point of contention appears to be the differing perceptions of the current free-agent market and where Bellinger fits within it, according to multiple sources in the league. This raises an intriguing question: Should Bellinger be entitled to a longer contract due to his relative youth? Or does the current trend in recent contracts suggest a different expected range?
This offseason, three of the most lucrative deals secured by position players have been signed by third baseman Alex Bregman with the Chicago Cubs, first baseman Pete Alonso with the Baltimore Orioles, and designated hitter Kyle Schwarber with the Philadelphia Phillies, all of which were structured for five years.
Bregman’s agreement is valued at $175 million, but after deferrals, its present-day worth is expected to be closer to $30 million to $31 million per season, translating to around $150 million to $155 million in total. Alonso's deal amounts to $155 million with an average annual value of $31 million, while Schwarber’s contract is for $150 million, equating to approximately $30 million annually.
Interestingly, both Alonso and Bregman are represented by agent Scott Boras, who also represents Bellinger, whereas Schwarber is under the guidance of Casey Close from Excel Sports Management. In terms of age, Alonso, who recently turned 31, will reach 36 years old when he becomes eligible for free agency again. Bregman will turn 32 in March, and his contract will take him through his age-36 season. Schwarber will also celebrate his 33rd birthday in March and will be under contract until he is 37.
At 30 years old, Bellinger is younger than all three players, which strengthens his argument for a longer-term contract that would align with the stage of his career similar to theirs. A five-year deal would see him through to his age-35 season, while a seven-year deal would extend to his age-37 season—similar to Schwarber’s—but would outlast the contracts accepted by Alonso and Bregman.
Nevertheless, the Yankees can reference the lengths of the agreements made with Bregman, Alonso, and Schwarber as a basis for their offer. Currently, it remains uncertain whether Bellinger has received formal offers from teams other than the Yankees, who have repeatedly expressed their desire to retain him this offseason. However, according to a report by the New York Post’s Jon Heyman, there are indications that Bellinger is also attracting interest from the Los Angeles Dodgers, San Francisco Giants, and New York Mets.
Bellinger played a pivotal role in the Yankees’ 2025 season, achieving a 5.1 WAR as recorded by Baseball Reference, alongside impressive statistics that included a .272 batting average, 29 home runs, 98 RBIs, and an OPS of .813. His performance in left field was commendable, and he is expected to continue contributing as a versatile player across center field, right field, and first base in the upcoming season.
The Yankees acquired Bellinger through a trade with the Cubs in December 2024, where they took on nearly all of the $52.5 million remaining on his contract, aside from $5 million, and exchanged pitcher Cody Poteet with Chicago. Notably, Bellinger opted out of his three-year, $80 million contract in November, a decision that followed a previous year when he chose not to opt out of the same deal while still with the Cubs.
