The Yankees are holding their breath as the free-agent market for Cody Bellinger enters its final stages, but the list of competitors trying to steal the star outfielder is shrinking.
With the Los Angeles Dodgers officially out of the running after signing Kyle Tucker to a blockbuster deal, the bidding war has narrowed significantly. For General Manager Brian Cashman, the path to a reunion is becoming clearer—provided he can fend off the aggressive neighbors from Queens.
The Blue Jays Are Out, Cleaning Up the Field
Perhaps the best news for the Yankees this week came from the north. For months, the Toronto Blue Jays were viewed as a potential “dark horse” suitor for Bellinger, given their need for offensive firepower. However, recent reports suggest they have bowed out.
According to Mitch Bannon of The Athletic, the Blue Jays “haven’t appeared particularly interested” in the 29-year-old slugger this winter, and it seems “unlikely” they will suddenly pivot to beat the Yankees’ current offer. This development removes a dangerous division rival from the equation, ensuring that Bellinger won’t be haunting the Yankees from within the AL East.
It’s a Two-Horse Race: The Bronx vs. Queens
With the Dodgers and Blue Jays effectively sidelined, the battle for Bellinger appears to be boiling down to a Subway Series showdown between the Yankees and the New York Mets.
The Mets are the most significant threat remaining. Having missed out on Tucker, they are desperate for a versatile outfielder who can patrol all three spots and provide insurance at first base—a role Bellinger was practically built for. However, the Mets’ front office, led by David Stearns, has stuck to a strict philosophy this winter: high average annual value (AAV) on shorter-term deals.
This creates a fascinating clash of strategies. The Mets might offer Bellinger more money per season (potentially $35M+ AAV) on a three- or four-year deal, appealing to his desire for immediate cash. The Yankees, meanwhile, are banking on security. Their offer of five years and $160 million is likely the longest guaranteed contract currently on the table.
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The Leverage of “Years”
Ultimately, this negotiation will likely come down to one variable: years. Bellinger entered the offseason seeking a seven-year commitment, but that market never materialized. If the choice is between a three-year sprint with the Mets or a five-year guarantee in the Bronx, history suggests players usually opt for the longer security.
The Philadelphia Phillies remain a lingering possibility, but the Yankees seemingly hold the winning hand if they stick to their five-year structure. Losing him would be catastrophic, forcing the team to gamble on prospects Jasson Domínguez or Spencer Jones to fill an All-Star sized hole. But with the field thinning out, the Yankees are betting that their offer is the only one that gives Bellinger the long-term home he wants.