The Yankees are engaged in a familiar high-stakes poker game this winter, and for once, it feels like general manager Brian Cashman holds the winning hand against super-agent Scott Boras.
The topic of conversation is outfielder Cody Bellinger, who remains unsigned as his camp frantically tries to secure a mega-deal that simply does not exist in the current landscape.
According to Yankees insider Jack Curry, nobody has come close to meeting Boras’ astronomical demands, creating a standoff that benefits the patient pinstripes more than anyone else. Cashman knows that the market is sinking, and he is content to let the price tag deflate until it reaches a number that makes sense for a team trying to balance championship aspirations with financial sanity.
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Separating the Name From the Numbers
Bellinger is undeniably a talented player, but his profile is riddled with red flags that make a blank-check offer reckless.
While he posted a respectable .272 batting average and swatted 29 home runs in 2025, the underlying metrics suggest he is walking a tightrope rather than dominating pitchers. His average exit velocity ranked in the 24th percentile and his hard-hit rate sat in the 26th percentile, indicating that much of his production came from finesse rather than the raw power usually associated with $200 million contracts. He avoids strikeouts at an elite clip—ranking in the 91st percentile for strikeout rate—but the Yankees are rightfully wary of paying premium prices for a hitter who might be benefiting from good fortune more than sustainable skill.
Elite Defense Cannot Mask Offensive Volatility
Where Bellinger provides undeniable insurance is with his glove, an area where the Yankees have often compromised in recent years. He remains a defensive wizard, ranking in the 93rd percentile for range (Outs Above Average) and the 91st percentile for arm value during the 2025 campaign.
Maintaining that kind of reliability in the outfield would certainly help, but defense alone does not justify the contract years Boras is hunting for. The Yankees are looking for a complete package, and while Bellinger’s .814 OPS is solid, it is not the numbers of a lineup anchor who carries an offense through October.
navigating a Complex Market
This patient approach aligns with the broader philosophy the front office seems to be adopting this offseason. Much like the discourse suggesting the Yankees should not be deterred by Kyle Tucker’s poor market, the team understands that external market factors are depressing values across the board.
If other teams are hesitant to pay up for elite talent, the Yankees can afford to wait in the weeds and strike when desperation sets in for the player, not the club. This discipline is crucial, especially when you consider other rumors, such as the Yankees being predicted to land Bo Bichette for reasons that seem ludicrous, which highlights just how chaotic the speculation can get.
The Leverage Has Shifted to the Bronx
Ultimately, Bellinger needs the Yankees more than the Yankees need Bellinger at his current asking price. He is entering his age-30 season and trying to leverage a resurgent year into long-term security, but the data clearly shows a player who is good, not great.
If Boras wants to get a deal done, he will have to come down to Cashman’s reality. Until then, the Yankees are perfectly comfortable letting the phone ring, knowing that every day of silence brings the price closer to a bargain that could look like a genius move by July.