The New York Yankees offseason has dragged on for weeks with little to show for it, as the Bronx Bombers continue their pursuit of their top target without a breakthrough. Despite being linked to several marquee names, it has been a surprisingly quiet and underwhelming winter for the New York Yankees, far from the aggressive splash many expected to push the franchise into serious 2026 World Series contention.
At the center of it all is free agent Cody Bellinger. The former MVP is the player New York desperately wants, yet the deal remains unsigned and the Yankees’ offer continues to sit on the table unanswered.
The Yankees believe they are Cody Bellinger’s best option
According to Bob Nightengale of USA Today, the Yankees have proposed a five-year contract worth $155-160 million, with discussions including deferred money, opt-outs, and even a signing bonus. In the most recent version, the deal carries a true AAV of roughly $31-32 million. However, Bellinger is holding out for a seven-year contract, a length the organization is unwilling to offer.
Under these circumstances, only two other franchises realistically have the financial power and incentive to meet Bellinger’s demands: the Los Angeles Dodgers and the New York Mets. Still, once the Yankees’ numbers became public, the market dynamics shifted noticeably.
Harold Reynolds: Why Bellinger fits best in pinstripes
MLB analyst Harold Reynolds of MLB Network remains convinced that the best landing spot for Cody Bellinger is New York-and that it’s only a matter of time before he agrees.
“When a team makes an offer public, they’re telling the fanbase-and the agent-that this is as far as we’re going,” Reynolds explained. “That usually means the player signs pretty soon.”
Reynolds added that once the Yankees walk away, the list of teams capable of offering more shrinks dramatically.
“The one team that needs Bellinger more than anyone else is the Yankees because of the flexibility he gives them.”
While the Dodgers can lean on stars like Mookie Betts and the Mets have roster versatility of their own, Reynolds emphasized how valuable it would be to pair Bellinger with Aaron Judge in the middle of the lineup. From a lineup construction and defensive versatility standpoint (OF/1B), the fit is obvious.
Stalemate continues into January 2026
As of mid-January 2026, negotiations remain at an impasse. The Yankees appear unwilling to improve their offer, while Bellinger’s camp-led by super-agent Scott Boras-continues to push hard for seven guaranteed years of long-term security.
Other suitors remain on the fringes: the Dodgers are monitoring the situation, and the Mets are considered realistic but have yet to make a confirmed aggressive push. Still, many insiders echo the same conclusion-Yankee Stadium, with its short porch, everyday role, and lineup protection alongside Judge, represents the perfect scenario for Cody Bellinger’s next chapter.
Now, everything is in Bellinger’s hands. The Yankees have drawn their line. The only question left is how long this waiting game will last.
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