Aug 23, 2023; Bronx, New York, USA; New York Yankees general manager Brian Cashman talks with the media before the game between the Yankees and the Washington Nationals at Yankee Stadium. Mandatory Credit: Vincent Carchietta-Imagn Images Vincent Carchietta-Imagn Images

Yankees Pessimistic About Re-Signing Cody Bellinger

Originally posted on New York Yankees on SI
By Michael Rosenstein | Last updated Nov 24, 2025 1:46 PM ET

Uh oh. That could describe the mood these days among the New York Yankees' front office.

First, the club saw outfielder Trent Grisham accept the one-year qualifying offer, tying up more than $22 million in payroll for 2026.

Second, the Yankees watched the crosstown New York Mets signal their interest in jumping into the mix for a free-agent outfielder after shipping Brandon Nimmo to the Texas Rangers for infielder Marcus Semien.

Last, but certainly not least, consider this update from NJ.com's Bob Klapisch on the Yankees' attempts to re-sign Cody Bellinger.

History Repeating Itself?

"Of course, the Yankees want him back. They love everything about his game," Klapisch notes.

"But there’s a strong sense of pessimism about the next four weeks. You could also call it realism — the expectation that (Scott) Boras is about to pull a (Juan) Soto 2.0," Klapisch adds.

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The Yankees traded for Soto in 2023 with no guarantee he would re-sign with New York when he reached free agency after the 2024 season.

Sure enough, Boras jacked up the bidding for his client, who eventually signed with the Mets, getting a 15-year, $765 million contract.

The Boras Factor

According to Klapisch, some league insiders feel Boras may try to do the same thing with Bellinger: Start a bidding war that the Yankees won't win.

“When you negotiate with Scott, you’re not the one in control,” an executive said to Klapisch. “You’re just flying in his plane, along for the ride while he decides where he’s going to land.”

Despite Grisham's returning to the Bronx, Klapisch believes the Yankees have enough money to afford Bellinger.

Vincent Carchietta-Imagn Images

"It depends, however, on whether Boras will play hardball and demand a six- or seven-year contract at $30 million per," Klapisch writes.

"Crystal Ball" Prediction

"My crystal ball says the Yankees won’t go that high. Nor do I think they’ll go that high with right fielder Kyle Tucker. The organization is more than willing to stick with Jasson Dominguez in left and raise the curtain on Spencer Jones in center," Klapisch concludes.

"Bellinger, without the qualifying offer attached to him, should have a crowded market for his services, the 30-year-old outfielder/first baseman expected to fetch a multiyear contract north of $150 million," the New York Post's Greg Joyce reported.

That's in line with what MLB Trade Rumors reported, with the site projecting Bellinger will get a five-year, $140 million contract.

The Yankees acquired Bellinger in a December 2024 trade with the Chicago Cubs. His resume includes a pair of All-Star nods, two Silver Slugger Awards and a Gold Glove Award.

Bellinger looked good in pinstripes, hitting 29 home runs and driving in 98 runs while posting a 5.0 WAR in New York, his highest totals since winning the 2019 National League MVP Award with the Los Angeles Dodgers.

The 2017 National League Rookie of the Year opted out of his three-year, $80 million contract by turning down his $25 million option for 2026.

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