The Yankees are playing a high-stakes game of chicken with their season on the line, and while they refuse to budge on the years, they are getting creative with the cash. According to Jon Heyman of the New York Post and Brendan Kuty of The Athletic, the Yankees have officially enhanced their offer to free-agent star Cody Bellinger in an attempt to close the deal before a bidding war erupts.
The baseline of the offer remains a five-year deal worth approximately $160 million, but the front office has reportedly tossed in several lucrative variables to entice the 30-year-old slugger.
The new package includes two opt-outs—likely after the second and third seasons—giving Bellinger the ability to re-enter the market and cash in again if he puts together another MVP-caliber campaign.
Additionally, the Yankees are prepared to hand over a massive signing bonus and have structured the deal with zero deferrals. This means Bellinger would receive his money on time and upfront, a stark contrast to the deferred-money trend sweeping the league (looking at you, Dodgers).
A “Fair” Offer in a Shrinking Market
General Manager Brian Cashman has essentially drawn a line in the sand: he will not go to seven years, but he will make the five-year deal as player-friendly as possible. The inclusion of opt-outs is a strategic compromise, allowing Bellinger to bet on himself while mitigating the Yankees’ long-term risk on a player with a volatile injury history.
However, the clock is ticking. With Kyle Tucker signing with the Dodgers and Bo Bichette landing with the Mets, Bellinger is the last true impact bat remaining on the open market. The Yankees are in serious danger of letting their second-best hitter from 2025 walk out the door with no clear replacement lined up.
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The Danger of Standing Still
While the Yankees believe their offer is “eminently fair,” the reality of the offseason is grim. Their division rivals and crosstown neighbors have aggressively improved, while the Yankees have remained largely stagnant. Losing Bellinger would leave a gaping hole in the middle of the lineup and the outfield defense that internal options like Jasson Domínguez or Spencer Jones may not be ready to fill.
If the Yankees let Bellinger slip away over a refusal to add a sixth year or a few extra million, they risk entering 2026 significantly worse than they left 2025. The sweeteners are on the table, but now the Yankees must wait to see if Bellinger takes the bait—or if Steve Cohen swoops in to steal him away.