Cody Bellinger is staying in the Bronx. Five years, $162.5 million, two opt-outs, a $20 million signing bonus, and a full no-trade clause. ESPN's Jeff Passan broke the news Wednesday afternoon.
The number is interesting. The structure is interesting. But the story is better.
The bloodline
Twenty-six years ago, a utility man named Clay Bellinger finally made it to the big leagues after a decade grinding through the minors. He was 30 years old. The team that gave him his shot? The New York Yankees.
Clay never became a star. He played 181 games over three seasons in pinstripes, mostly as a defensive replacement and pinch runner. But he was there when it mattered. World Series rings in 1999 and 2000. In Game 2 of the Subway Series against the Mets, he robbed Todd Zeile at the left field wall with Mariano Rivera on the mound. The Yankees won that game. They won that series.
His son Cody was 4 years old, running around the old Yankee Stadium playroom while his father lived his dream.
"I have small memories of like the playroom, the kids' playroom that I would go to during the games," Bellinger told reporters when the Yankees acquired him from Chicago last December. "My mom did a great job with the camcorder."
Now he's locked in through potentially 2030, building his own chapter in the same place where his father built his.
What the numbers say
Bellinger just had his best season since winning NL MVP in 2019. The surface stats are strong: .272/.334/.480, 29 home runs, 98 RBI. But the underlying profile is what made the Yankees willing to commit nine figures.
His 13.7% strikeout rate was the lowest on the entire roster. In an era where everyone swings and misses, Bellinger put the ball in play. He posted 4.9 fWAR over 152 games, ranking in the 93rd percentile in outs above average while playing all three outfield positions.
The power was real, too. Those 29 homers matched his MVP year total. The short porch in right field suits his lefty swing perfectly—the Yankees played 87 games with those dimensions since Tampa Bay used Steinbrenner Field as their temporary home.
Brian Cashman, entering his 29th season as GM, has now worked with both Bellingers. That's a detail that belongs in a baseball novel, not a press release.
The Boras factor
This deal dragged out for two and a half months. That's what happens when Scott Boras is involved.
The Yankees reportedly had a five-year, $160 million offer on the table for weeks. They weren't bidding against themselves—Bob Klapisch of the Newark Star-Ledger reported the team made "an internal decision not to engage in a bidding war."
Ken Rosenthal of The Athletic said last week that Bellinger would decide "within a week." Jon Heyman reported four teams were in the mix: the Yankees, Mets, Blue Jays, and a mystery fourth suitor. Steve Phillips on MLB Network suggested the teams had different strategies—the Mets wanting a short-term, high AAV deal like Bo Bichette's three-year pact, the Blue Jays potentially willing to go seven years at a lower annual value.
Then the Mets traded for Luis Robert Jr. Tuesday night. Bichette signed. Kyle Tucker went to the Dodgers for $240 million. Suddenly the musical chairs stopped, and Bellinger was left standing in front of the team that wanted him all along.
The final number—$162.5 million—represents a slight bump from the original offer. The opt-outs after years two and three give Bellinger the flexibility Boras always demands. Both sides got what they needed.
What it means for 2026
The outfield is set: Aaron Judge in right, Trent Grisham (who accepted the qualifying offer) in center, Bellinger in left. Jasson Domínguez waits in the wings. If Grisham struggles or departs, Bellinger can shift to center. If Judge needs a DH day, Bellinger can play right. If someone gets hurt, he can even handle first base.
That versatility matters. The Yankees learned from Kiké Hernández's approach during their shared time with the Dodgers—Bellinger explicitly told manager Aaron Boone he'll play wherever he's needed.
"I enjoy doing that stuff. I think that it helps the teams that I'm on win."
Judge reportedly pushed hard for this signing. The captain wanted his lineup protection back. He got it.
The asterisks
Bellinger's postseason numbers in 2025 were underwhelming: 6-for-28, one homer, four RBI. The Yankees lost in the ALDS to the Blue Jays. October underperformance is a team-wide issue, but the marquee hitters carry the blame.
He's also turning 31 in July, with a career that's featured multiple injury-plagued seasons. The Dodgers non-tendered him after 2022. The Cubs moved on after one productive year in 2024. Every time someone bets against him, he bounces back—but you can only defy the aging curve so many times before it catches you.
The opt-outs protect the Yankees if Bellinger declines. They protect Bellinger if he stays elite. It's a fair structure for a player who's been both an MVP and a non-tender casualty within four seasons.
The bottom line
This wasn't the Yankees' flashiest offseason move. That designation probably goes to... well, they haven't made one. Juan Soto walked across town to the Mets. New York's response was to bring back the guy they already had.
But sometimes keeping what works is the right call. Bellinger fit in the Bronx immediately. The lefty power, the defensive flexibility, the family history—it all made sense from day one.
Clay Bellinger spent a decade in the minors before finally making it. His son won MVP at 23, got cut at 27, rebuilt himself at 28, and just signed a deal that could keep him in pinstripes until he's 35.
Baseball careers rarely follow a straight line. The Bellingers know that better than most.