Where things stand between Yankees, Cody Bellinger: Insider

BALTIMORE, MARYLAND – SEPTEMBER 20: Cody Bellinger #35 of the New York Yankees bats against the Baltimore Orioles at Oriole Park at Camden Yards on September 20, 2025 in Baltimore, Maryland. (Photo by G Fiume/Getty Images)

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By Jackson Roberts

Contributing Sports Writer

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New York Yankees fans understandably went into panic mode on Saturday.

When ESPN's Buster Olney reported that the Yankees and free-agent outfielder Cody Bellinger were "at an impasse," and that the Yankees were prepared to pivot away from Bellinger as their No. 1 target, some assumed that the two-time All-Star was guaranteed to head elsewhere. Others wondered if it was simply the Yankees taking a hard stance in a long negotiation process.

It doesn't yet seem safe to count the Yankees out for Bellinger, as there has been no reporting to this point about another team having an offer on the table. But these negotiations have clearly been contentious, and on Monday, insider Bob Nightengale provided more details.

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BALTIMORE, MARYLAND - SEPTEMBER 20: Cody Bellinger #35 of the New York Yankees bats against the Baltimore Orioles at Oriole Park at Camden Yards on September 20, 2025 in Baltimore, Maryland. (Photo by G Fiume/Getty Images)

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According to Nightengale, the Yankees offered Bellinger a sizable five-year deal, but that the star outfielder and agent Scott Boras believe at least two more years are mandated to put ink to paper.

"The Yankees and free agent Cody Bellinger’s stare-down continues with one month before spring training," Nightengale wrote on X. "The Yankees have offered a (five-year) contract between $155-$160 million without deferrals. Bellinger is seeking at least a (seven-year) deal."

The Yankees acquired Bellinger in a trade with the Chicago Cubs just over a year ago, and at the time, his value was far below that $31-32 million per year market value. The Cubs ate $5 million in cash considerations and only acquired right-handed pitcher Cody Poteet, who never appeared in a regular-season game for them.

Bellinger rebuilt his value in a Yankees uniform, and it seems while the Yankees want him back, they don't want that return deal to be on his terms. They're challenging him to go out and find that seven-year deal elsewhere, and he very well might do it.

Spring training will arrive soon enough, and the question is not only whether Bellinger will be with the Yankees when camp opens, but whether he'll have a new contract yet with anyone.