What are the Yankees' options if Belli signs elsewhere?

NEW YORK -- The wounds were still fresh at the conclusion of the American League Division Series when Cody Bellinger unbuttoned his pinstriped Yankees jersey and said he’d “absolutely” be interested in putting it back on.

The feeling was mutual. For months, general manager Brian Cashman and others in the organization voiced their intent to continue a relationship that had seemed an instant fit, with Bellinger’s athleticism, personality and versatility making him a favorite of manager Aaron Boone.

“He was an impactful player for us last year, and we’d love to have him back if it could fit for us,” Cashman said during the Winter Meetings.

We may be about to find out what the Yankees’ Plan B is. With negotiations stalled over years and annual average value (AAV), ESPN’s Buster Olney reported on Saturday that the club is “now operating under the assumption that Bellinger is going to sign elsewhere.”

Although that could represent a public message to Bellinger and his agent, Scott Boras, the Yankees don’t appear willing to budge from their most recent offer, believed to be in the range of five years and at least $30 million per season.

The package is comparable in length and value with the deals that Pete Alonso (five years, $155 million with the Orioles) and Kyle Schwarber (five years, $150 million with the Phillies) have signed this winter. Bellinger is seeking a longer commitment, possibly seven years.

Bellinger, 30, earned $27.5 million last season, when he batted .272/.334/.480 with 25 doubles, 29 home runs, 98 RBIs and 13 stolen bases in 152 games. The Cubs covered $2.5 million of that salary after dealing him to New York in December 2024 as part of a payroll-clearing move.

With 5.1 bWAR, Bellinger’s 2025 season was his strongest since 2019, when he was the National League’s Most Valuable Player with the Dodgers (8.7 bWAR).

That variance is part of the evaluation. Bellinger cratered in ’21 with Los Angeles (-1.6 bWAR), rebounded with the Cubs in ’23 (4.8 bWAR), then saw a dip again in ’24 (2.2 bWAR) before a bounceback in the Bronx.

Still, there has been no shortage of interested clubs: Boras suggested during the Winter Meetings that as many as eight clubs have checked in.

If Bellinger departs, the Yankees’ alternatives are limited. Kyle Tucker is widely viewed as the top outfielder available, but other than a November tour of the Blue Jays’ training facility in Dunedin, Fla., his free agency has moved slowly.

MLB.com’s Mark Feinsand reported that Tucker is seeking a long-term deal worth at least $300 million, with some industry estimates pushing toward $400 million.

In recent years, the Yankees have added weighty nine-figure deals, including packages for Aaron Judge, Gerrit Cole, Carlos Rodón and Max Fried. Their offers to Bellinger represented another.

“Everything adds up. Everything counts,” Cashman said in December. “We are an aggressive franchise. But while being aggressive, we already have some very large commitments. The more of those you have, the more it affects you in other areas.”

Bo Bichette represents an appealing pivot, with the added bonus of subtracting a key bat from the division-rival Blue Jays.

Bichette’s asking price is also thought to be in the $300 million range, and he has a reported meeting set for Monday with the Phillies. Bichette would give the Yankees a potent right-handed bat, addressing a concern Cashman voiced about lineup imbalance.

In theory, Bichette could open the season at shortstop while Anthony Volpe recovers from left shoulder surgery. But scouts believe Bichette profiles better long-term at second base or third base, positions currently occupied by Jazz Chisholm Jr. and Ryan McMahon.

A Bichette signing would thus open trade avenues -- potentially for a starting pitcher, with the Yanks having expressed interest in the Brewers’ Freddy Peralta and the Nationals’ MacKenzie Gore, among others. That holds true for a Bellinger reunion as well, considering Jasson Domínguez would be dislodged in left field.