Cody Bellinger is back with the Yankees but they are still in the Dodgers' shadow

The New York Yankees pulled off a major offseason move to reignite hope among their fan base, even as they understand that the 2026 MLB season will be just as challenging-if not more so-than last year. Expectations will be sky-high after the organization secured Cody Bellinger‘s return to the Bronx with a five-year, $162.5 million contract.

It’s no secret that this acquisition was critical for the Yankees as they look to challenge the Toronto Blue Jays within the American League East, even if New York is not viewed as the outright favorite across the MLB landscape to win the World Series.

Bellinger’s return had an immediate impact on the betting market, improving New York’s World Series odds. The Yankees jumped from +1100 to +1000 at FanDuel Sportsbook, with only the Los Angeles Dodgers (+220) sitting ahead of them in projections to lift the trophy in the 2026 season.

While the team still faces key question marks heading into 2026, the potential return of Gerrit Cole at some point during the year could elevate the Yankees into one of the best starting rotations in all of MLB. Add to that Bellinger’s continuity, which strengthens the offensive protection around Aaron Judge and keeps New York firmly in contention for the American League lead.

On an individual level, Bellinger delivered an outstanding 2025 campaign, posting a .272/.334/.480 slash line with 29 home runs and 98 RBIs. Those numbers allowed him to finish 14th in American League MVP voting and served as a key consolation prize following the departure of Juan Soto the previous offseason.