If you are a Yankees fan hoping for a calm, methodical offseason, you might want to pour yourself a stiff drink. The hot stove just got a massive jolt of caffeine, and unfortunately for General Manager Brian Cashman, the Chicago Cubs were the ones holding the cup.
In a move that seemingly came out of nowhere, the Cubs landed star third baseman Alex Bregman on a five-year, $175 million deal, a contract that reportedly includes significant deferrals to keep the luxury tax hit manageable.
For Chicago, this is a brilliant pivot. They are almost certainly watching Kyle Tucker walk out the door in free agency, likely to the Mets or another high bidder, so grabbing Bregman allows them to balance the scales rather than letting their roster atrophy. They replaced one star with another.
The Yankees, however, don’t have that luxury. With Bregman off the board, the pool of elite offensive talent just got shallower, and the price tag for everyone else just went up.
The Bellinger Bridge Is Burning
While the Cubs were busy closing deals, the Yankees were busy hitting walls. The reunion with Cody Bellinger, which felt inevitable just a few weeks ago, is now on life support. According to Buster Olney of ESPN, the front office has reached a breaking point in negotiations and is pivoting to a grim reality.+1
“The Yankees were hoping to re-sign the veteran outfielder, who played well for them last season, but are now operating under the assumption that Bellinger is going to sign elsewhere. The team is now seeking additions elsewhere, sources added.”
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The issue, as it always seems to be with Scott Boras clients, is the valuation. Bellinger is reportedly hunting for a seven-year deal worth $36-37 million annually. That is superstar money for a player with a roller-coaster track record.
The Yankees are arguably the only team that makes sense for him—Yankee Stadium’s short porch masks his fly-ball tendencies perfectly—but Cashman refuses to bid against himself. The problem is, the Yankees are now operating under the assumption that Cody Bellinger is going to sign elsewhere, and they don’t have a clear Plan B.
A Barren Market and the Gamble of “Patience”
With Bregman gone and Bellinger effectively ghosting them, the Yankees are staring down the barrel of a dangerously thin market. Kyle Tucker is the only true game-changer left, but his price tag will likely eclipse $300 million, a figure the Yankees have been hesitant to approach. If they miss on Bellinger and pass on Tucker, who is left?
The trade market is an option, but do you really want to strip-mine the farm system for a rental? The alternative is handing the keys to rookies like Jasson Dominguez or Spencer Jones. While both are immensely talented, banking your entire 2026 season on unproven youngsters replacing an MVP-caliber bat is a gamble that gets general managers fired.
Cashman’s strategy of patience is quickly becoming a game of musical chairs, and the music is about to stop. The Cubs made their move. The Mets are lurking. The Yankees need to wake up and realize that “value” doesn’t hit home runs—players do. If they keep waiting for the price to drop, they are going to find themselves standing alone in an empty room while their rivals celebrate.