Cody Bellinger Keeps Raking His Way Up The Free Agent Rankings

New York Yankees’ Cody Bellinger watches his sacrifice fly to score Trent Grisham during the seventh inning of a baseball game against the St. Louis Cardinals Sunday, Aug. 17, 2025, in St. Louis. (AP Photo/Jeff Roberson)

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The New York Yankees blasted nine home runs in yesterday’s 13-3 drubbing of the Tampa Bay Rays, and Cody Bellinger led the assault. He went 4-5 with a pair of long balls, bringing his season total up to 24. His strong play means he’ll have to make a difficult decision at the end of the year.

Bellinger has a $25 million player option for next season with a $5 million buyout. He will need to decide whether to opt in for the final year of the three-year deal he originally signed with the Chicago Cubs, or become a free agent.

For the season, the 30-year-old is hitting .272/.325/.500. He’s a capable center fielder and an excellent left fielder, right fielder, and first baseman. This is his third-straight year as an above-average hitter after the Los Angeles Dodgers non-tendered him following the 2022 season.

Bellinger’s previous forays into free agency haven’t gone according to plan. He signed a one-year, $17.5 million deal with the Cubs in 2023 after the Dodgers discarded him. He batted .307/.356/.525 that year and won a Silver Slugger Award, then declined a mutual option so he could reach the open market.

Many experts considered him one of the top players available that winter, and MLB Trade Rumors projected he would land a 12-year, $264 million contract, but no such offer materialized. He returned to the Cubs after spring training had already begun on a three-year, $80 million deal with player options following the first and second years.

He opted into the second year of the deal after hitting .266/.325/.426, then was traded to the Yankees. With his improved power numbers and more established track record, it’s less likely he will stick around for the final year of the deal. The $5 million buyout makes this a $20 million decision, so if he thinks he can get more than a one-year, $20 million deal, he should decline his option.

Most likely, he will seek the long-term contract that has eluded him for his whole career. MLB Trade Rumors ranked him the fifth-best upcoming free agent earlier this month. He’s still one of the younger players who’s going to be available. He’s also versatile defensively, hits for average and power, and his 13.0% strikeout rate is a little over half of the MLB average. Most importantly, he’ll have compiled three quality seasons in a row, erasing concerns about the collapse that ended his Dodgers days prematurely.

After essentially going year-to-year for his whole career, this is his best chance to sign a long-term deal. His contract demands will probably be in the six or seven year range at $30 million per year, though that would be the high end for what he could command. On the low end, he should settle for at least four years at the $25 million salary he would decline in his current contract.

It seemed like a certainty when Bellinger won the 2019 MVP that he would one day become one of MLB’s highest-paid players. After some unexpected detours, he finally has that opportunity this offseason.