Cody Bellinger hit 29 home runs in his first year with the Yankees but is opting out of his contract. (Photo by Mike Stobe/Getty Images)
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Just days after his New York Yankees were eliminated from the 2025 baseball playoffs, Cody Bellinger declined his $25 million player option and became a free agent.
A left-handed power hitter whose swing was a perfect match for the short right-field dimensions of Yankee Stadium, Bellinger hit 29 home runs – his best since he had 47 for the Cubs during his National League MVP season in 2019.
He also stole 13 bases and showcased his versatility, playing all three outfield positions plus first base during his one-year tenure in the Bronx.
By declining his player option, Bellinger will receive a $5 million buyout, with half paid by the Yankees and the other half by the Cubs.
Trade to Yankees
Chicago traded him to New York last winter after acquiring another slugging outfielder, Kyle Tucker, in a trade. Now Tucker is also on the free-agent market, in a sense competing with Bellinger but for a much bigger payday.
When the Yankees landed Bellinger last winter, they took on $47.5 million of the $52.5 million remaining on his contract. The Cubs paid $2.5 million of his $27.5 million salary this season.
The lanky left-handed hitter, who broke into the big leagues with the Los Angeles Dodgers in 2017, is a two-time All-Star whose resume also includes a Gold Glove, a National League Championship Series MVP trophy, a World Series ring, and a Rookie of the Year award.
The 6’3″ native of Scottsdale, AZ has hit 225 lifetime home runs.
Cody Bellinger (right) and Aaron Judge exchange salutes after home run heroics for the 2025 Yankees. (Photo by Ishika Samant/Getty Images)
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He could keep his pinstripes if the Yankees win what is expected to be a multi-team bidding war for his services. A strong defender in center field, Bellinger is expected to have suitors from both leagues. But he’ll be looking for a contract rich in both years and dollars – and more than he earned in 2025.
Old Teams Beckon
He might even return to one of his former teams. The Cubs are likely to need a replacement for Tucker in their outfield, while the Dodgers could also use his left-handed power in their lineup.
If the Phillies lose Kyle Schwarber to free agency, they could lure Bellinger with a combination of contract, contending status, and club that plays in a ballpark conducive to the long ball.
San Diego, an also-ran again, could view Bellinger as a multi-position player who would add much-needed left-handed power, while San Francisco is always searching for more punch in its perennial chase of the Dodgers in the National League West.
Bellinger could even stay in New York since incumbent Mets first baseman Pete Alonso is also opting out of his contract. The Mets have the money to sign Bellinger, who is vastly superior to Alonso in the field, or sign Bellinger to play center field. If he goes to the Mets, it would mark the second straight winter that the Flushing team swiped a Yankees slugger via free agency (Juan Soto got a 15-year, $765 million deal last winter).
Bellinger, 30, hit .272 for the Yankees because of a .302 average in the Bronx. On the road, however, he was league-average at .241 and that could keep his price-tag “in the ballpark” of fiscal sanity.
Because Bellinger received a qualifying offer from the Cubs after the 2023 season, he is not eligible to get another. That makes him more attractive to other clubs.
The Yankees, who surrendered just journeyman pitcher Cody Poteet to land him from Chicago, could also decide to keep him.
Other 2025 Yankees who could wind up on the free-agent market are Trent Grisham, Luke Weaver, Devin Williams, and Paul Goldschmidt. Bellinger, whose father Clay also played for the Yankees, would have more value than anyone in that group.
Among other things, he’s learned to make more contact, cutting his strikeout rate significantly and batting a solid .281 over the last three years.