The New York Yankees have made a significant offer to free-agent outfielder Cody Bellinger, proposing a multi-year contract with an average annual value exceeding $30 million. This figure places Bellinger among the top five highest-paid outfielders in Major League Baseball, according to multiple sources familiar with the negotiations who spoke to The Athletic on November 30, 2023.
Bellinger’s camp is reportedly seeking a seven-year deal, aiming to secure his future with a long-term commitment. The Yankees have expressed a strong desire to retain Bellinger, who has demonstrated both defensive prowess in left field and a formidable presence in the batting lineup behind fellow star Aaron Judge. The ongoing discussions indicate that Bellinger is open to remaining in the Bronx, considering the extended nature of the talks.
The proposed average annual value of over $30 million puts Bellinger in elite company. Currently, Juan Soto leads the pack with an average of $51 million, followed by Aaron Judge at $40 million, Mike Trout at $35.5 million, and Mookie Betts at $30.4 million. Christian Yelich rounds out the top five with an average of $26.9 million.
In the backdrop of these negotiations, the offseason has seen other significant contracts that may influence Bellinger’s position. Recently, first baseman Pete Alonso secured a five-year, $155 million contract with the Baltimore Orioles, translating to an average of $31 million per year. Similarly, designated hitter Kyle Schwarber agreed to a five-year deal worth $150 million with the Philadelphia Phillies, equating to $30 million annually.
Bellinger, aged 30, is coming off a strong season in which he posted a batting average of .272, alongside 29 home runs and 98 RBIs, resulting in a 5.1 WAR according to Baseball Reference. This performance places him among a select group of Yankees outfielders who have achieved a WAR above 5 in the last decade, joining the ranks of Judge and Soto. His contributions also extend beyond left field, providing valuable depth at center field, right field, and first base.
While the Yankees remain committed to re-signing Bellinger, they may point to a trend of reluctance among teams to invest long-term in the outfielder. After winning the 2019 National League MVP with the Los Angeles Dodgers, Bellinger faced challenges that led to his non-tendering by the team three years later. Subsequently, he signed a one-year deal worth $17.5 million with the Chicago Cubs, eventually opting out of a remaining one-year contract valued at $25 million to enter free agency.
During the recent Winter Meetings in early December, Bellinger’s agent, Scott Boras, indicated that eight teams expressed interest in the outfielder. Boras has a history of negotiating lucrative long-term contracts for outfielders, including Jacoby Ellsbury and Brandon Nimmo, which may bolster Bellinger’s negotiating position.
Reports from The Athletic also indicate that the Yankees have explored options with free-agent infielder Bo Bichette, although concerns about his defensive fit remain. Currently, the Yankees’ left-field depth chart includes Jasson Domínguez, a promising 22-year-old switch hitter, and Spencer Jones, a top prospect who has yet to debut in the majors.
As the Yankees navigate these negotiations, they have had a relatively quiet offseason thus far, having re-signed several players including Trent Grisham and Amed Rosario. With the prospect of retaining Bellinger still in play, the Yankees appear poised to enter the upcoming season with a similar roster to last year, while also seeking enhancements to their starting rotation.
