NEW YORK — The Yankees believed they had Cody Bellinger cornered. They were wrong.
A new threat has emerged from the West Coast. The Los Angeles Dodgers, fresh off back-to-back World Series titles, are circling the free agent outfielder. And they have something the Yankees cannot offer: a chance to come home.
The stalemate between Bellinger and the Yankees has dragged on for months. Neither side will budge. Now the reigning champions have entered the picture, and everything could change.
Dodgers emerge as the biggest threat
MLB play-by-play announcer Jenny Cavnar delivered a warning to Yankees fans on Thursday. She believes the Dodgers represent the most significant competition in the Bellinger sweepstakes.
“If a contract is out to Cody Bellinger right now, it’s in his court,” Cavnar said in a video posted by MLB Network Radio on SiriusXM. “It’s in his court and his agency’s court. They’re countering, they’re listening to other offers.”
Cavnar then posed the question that should worry every Yankees fan.
“Who do you think the biggest competition is? That’s my question at this point in time. I don’t think it’s a team from the American League. I think their biggest competition is going to be the reigning World Series champs. You want to talk about a reunion.”
The sunshine could lure him back
Bellinger spent the first six seasons of his career with the Dodgers. He won the 2017 NL Rookie of the Year award. He captured the 2019 NL MVP trophy. He earned a World Series ring in 2020.
That history matters. Cavnar believes the championship celebrations in Los Angeles over the past two years might tempt Bellinger to return.
“He could either reunite in New York and go right back and run it back, or he could go, ‘I’ve been watching from the other coast; I remember when we won a World Series when I was a Dodger in 2020,'” Cavnar added.
“We didn’t have those big celebrations like they’ve had the last two years. Man, the sunshine, playing I Love LA after the games. I don’t know. I think the West Coast could maybe lure him back. That could be a very interesting fit if the Dodgers did indeed decide to pursue him.”
Yankees refuse to budge
The Yankees submitted a formal offer to Bellinger last week. The details remain unknown. The silence has been deafening.
ESPN’s Jeff Passan provided a blunt assessment of the situation. The Yankees want Bellinger. They just refuse to meet his asking price.
“This is a great encapsulation of the 2025-26 offseason: teams want guys but on their terms,” Passan wrote on Threads. “Until his price drops, the Yankees don’t seem inclined to budge.”
Agent Scott Boras represents Bellinger. Boras clients rarely settle for less than market value. Contract projections range from five years and $135 million to seven years and $182 million.
Bellinger thrived in the Bronx
The numbers make the Yankees’ interest obvious. Bellinger posted his best season since his MVP campaign in 2019. He batted .272/.334/.480 with 29 home runs and 98 RBI in 152 games.
Yankee Stadium played perfectly for his left-handed swing. At home, he slashed .302/.365/.554 with 18 home runs. His 125 OPS+ ranked among the best on the roster behind only MVP Aaron Judge.
He also provided elite defense. Baseball Reference valued him at 5.1 WAR. FanGraphs measured 4.9 WAR. Both marks represented the second-most valuable player on the team.
The case for staying in New York
SNY’s Dani Wexelman argued that Bellinger makes too much sense for the Yankees to let him walk.
“Cody Bellinger is the obvious choice because he was just there, and he performed really well in Yankee Stadium,” Wexelman said in a video posted by MLB Network Radio. “He is a really nice fit with the team. He’s an even better fit behind Aaron Judge to protect him.”
“And he gives Aaron Boone so many options, right? A guy who is above average on the infield and in the outfield is an incredible resource, and a guy who can be versatile in that way.”
General manager Brian Cashman has made no secret of the team’s desire to keep Bellinger.
“Cody Bellinger would be a great fit for us,” Cashman said. “I think he’d be a great fit for anybody. I think he’s a very talented player that can play multiple positions at a high level.”
Dodgers have the firepower
The Dodgers already landed Edwin Diaz from the Mets this offseason. They have the financial muscle to add another impact player. Their outfield has clear questions after Teoscar Hernandez struggled in 2025.
A Bellinger reunion would give Los Angeles a proven left-handed bat and elite defender. It would also add another former MVP to a roster already loaded with stars.
At 30 years old, this is likely the last major contract of Bellinger’s career. The decision he makes will shape his legacy. Does he chase another ring with the team that raised him? Or does he bet on himself in the Bronx?
The Yankees thought they had time. The Dodgers just took that away.
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