NEW YORK — The New York Yankees are showing early restraint in their offseason approach.
Team sources have indicated the club is not prepared to go beyond a four-year and may cap the offer at $125- $130 million for outfielder Cody Bellinger, keeping the average annual value around $32.5 million.
According to reports, the Yankees have yet to begin formal negotiations with Scott Boras, Bellinger’s agent, and remain cautious about extending both the length and price of any potential deal.
Bellinger’s strong 2025 season boosts market value
Bellinger, 30, has rebuilt his reputation after a productive 2025 campaign with the Yankees. Acquired in a December 2024 trade, he quickly became one of the team’s most consistent performers, finishing with a .272 batting average, 29 home runs, and 98 RBIs over 152 games. His .813 OPS (125 OPS+) marked his best full-season output since his 2019 MVP year with the Los Angeles Dodgers.
His overall impact was worth about 5.0 Wins Above Replacement, according to FanGraphs, ranking him as the second-most valuable Yankee behind Aaron Judge. Bellinger also excelled defensively, recording 15 Defensive Runs Saved and adding 13 stolen bases. His combination of power, defense, and speed helped the Yankees reach the postseason, though they fell short in the Division Series.
His balanced play has made him one of the most intriguing names in the free-agent market, but it has also created a financial puzzle for the Yankees, who must weigh his production against long-term risk.
Boras’ demands and Yankees’ boundaries
While the Yankees value Bellinger’s performance and clubhouse presence, they are wary of Boras’ reputation for extracting large, extended contracts. Industry observers believe the agent will pursue a six-year contract exceeding $200 million, targeting an annual salary north of $35 million.
That figure would likely push Bellinger’s total earnings above $200 million and extend into beyond his mid-30s. At 31 next season, he remains in his prime, but the Yankees have signaled internally that they will not commit beyond four years or exceed their set financial limit.
Team officials have referenced luxury tax considerations and Bellinger’s past inconsistency as reasons to stay disciplined. Between 2021 and 2023, he hit just .218 combined across seasons with the Dodgers and Cubs, battling injuries and slumps before rediscovering his form in 2025.
A contract exceeding $200 million would also place the Yankees deep into the competitive balance tax’s upper tiers, an area they have sought to avoid in recent years. The team already carries long-term deals for Judge, Giancarlo Stanton, Max fried, and Carlos Rodon, and is trying to preserve payroll flexibility for pitching depth and roster upgrades.
According to Spotrac, Bellinger’s projected market value sits $30.4 million a year. At six years, he may get $182 million. But Boras could push that number higher. Sources close to the organization believe the Yankees will hold firm at their four-year, $130 million and four-year threshold, viewing anything beyond that as too risky.
Yankees weigh risk of long-term deal
For general manager Brian Cashman and his front office, the decision is less about desire and more about durability. Bellinger’s recent rebound has reestablished him as a top player, but his history of uneven production still lingers in team discussions.
His success in 2025 was built on improved contact rates and adjustments at the plate. However, questions remain about whether that approach will sustain over the next several seasons. The Yankees are mindful of long-term contracts that have not aged well, including Giancarlo Stanton’s deal, which has limited payroll flexibility.
With the organization focused on maintaining balance, the Yankees are evaluating alternatives if Bellinger’s price climbs too high. The club wants to avoid another commitment that could hinder future signings or prevent extensions for younger players.
Backup options under consideration
Should Bellinger leave, the Yankees have backup plans already in motion. One internal option is Trent Grisham, who delivered a breakout year in 2025. The 29-year-old hit .247 with 34 home runs and an .812 OPS, proving capable of holding down center field while offering left-handed power.
Grisham’s cost would be considerably lower than Bellinger’s, making him a realistic replacement. He could return on a shorter deal while the team transitions to its next wave of outfield talent.
The Yankees also expect Jasson Domínguez to play a larger role in 2026. The 22-year-old top prospect continues to recover from elbow surgery and is projected to join the big-league roster full-time next season. If healthy, Domínguez could slide into left field, allowing the Yankees to keep the outfield strong without overextending financially.
Additionally, Cashman could explore trades for controllable outfielders or middle-of-the-order bats, depending on how the market develops. The team’s primary goal remains adding impact without overpaying for term.
Market dynamics and Boras’ strategy
Scott Boras is known for stretching negotiations deep into the winter to build leverage. His clients have historically commanded record-breaking contracts, including Gerrit Cole’s nine-year, $324 million deal with the Yankees in 2019. Many see him behind the Cole’s optout fiasco after a solid 2024 season.
While Boras is expected to use similar tactics with Bellinger, front offices across the league have grown more cautious since the pandemic, focusing on shorter, incentive-based deals. That shift could influence how far teams go for a player entering his 30s, even one coming off an excellent year.
Potential suitors such as the Giants, Mariners, or Red Sox could emerge if New York holds firm. But the Yankees’ internal stance remains clear: they will not overpay or overcommit.
Boone and Bellinger’s mutual respect
Manager Aaron Boone has been vocal in his praise for Bellinger, noting his professionalism and leadership during the 2025 season. Boone credited him with stabilizing the lineup and setting a strong tone in the clubhouse.
Bellinger has also spoken positively about his time in New York, calling it one of the most enjoyable stretches of his career. However, both sides recognize that business realities could dictate the outcome.
For now, the Yankees appear set on staying disciplined. Their four-year, $130 million cap reflects a growing league trend: prioritizing short-term flexibility over long-term financial strain. If Boras pushes for six years or more, it could price Bellinger out of New York’s plans.
Whether that line holds will shape the Yankees’ offseason and determine if one of their biggest contributors from 2025 stays in pinstripes or moves on.
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