The Yankees and Cody Bellinger are going to reunite on a new deal, reports Jeff Passan of ESPN. The Boras Corporation client gets a five-year deal worth $162.5MM, reports Bob Nightengale of USA Today. There are no deferrals, per Brendan Kuty of The Athletic. Bellinger can opt out after the second and third season, per Passan, who adds that there’s a $20MM signing bonus and full no-trade clause. Bellinger gets $32.5MM in each of the first two seasons, per Nightengale. The opt-outs will be pushed by a year if the 2027 season is wiped out by a lockout, per Nightengale. The Yanks currently have a 40-man vacancy and won’t need to make a corresponding move unless they fill that spot before this agreement becomes official.
It always seemed like a good bet that Bellinger would return to the Yankees, since their first season together was a success. But there was a standoff recently, as the club and Bellinger’s camp had a bit of a gap. It was reported earlier this month that the Yankees had an offer out to Bellinger. No details on that offer were revealed but it was reported a few days later that they had made a second offer.
Subsequent reporting on the negotiations suggested the Yanks had put forth a five-year offer worth more than $150MM, but with Bellinger’s camp hoping to get the length pushed to seven years. That gap seemingly put things on ice for a moment, with alternative paths available to both parties. The Yankees showed interest in other players, including outfielder Luis Robert Jr., while Bellinger still had potential fits with teams like the Dodgers and Mets.
But the market has changed quite a bit in the past week. The Dodgers and Mets got into a bidding war over Kyle Tucker, with the Dodgers coming out on top. The Mets then pivoted to signing Bo Bichette to bolster their infield, followed by trading infielder Luisangel Acuña to the White Sox as part of their package to land Robert.
Those moves took away some alternate paths from the Yankees but also removed a couple of logical landing spots for Bellinger. The Yanks seemingly didn’t budge far from where their reported offer was a few weeks ago, though they did add the opt-outs. It was reported a few days ago that they were willing to include those.
Though Bellinger and Boras didn’t quite get the seven years they were looking for, the deal comes in fairly close to expectations from the beginning of the offseason. For instance, MLBTR predicted Bellinger to land a guarantee of $140MM over five years. Bellinger has secured himself a floor just above that. There’s also a path to boosting his future earnings again with more opt-out opportunities down the line.
More to come.