NEW YORK -- Asked to evaluate the experiences of a season with the Yankees late last year, Cody Bellinger's eyes scanned the home clubhouse. His gaze settled in the direction of Aaron Judge’s locker, prompting a confession: He would “absolutely” love to return.
“I had an unbelievable time putting on this uniform,” Bellinger said then. “Yankee Stadium, the fans, the organization, the culture that these guys have created in this locker room -- it really is special. It’s such a fun group.”
And it is one that he will continue to be a part of. Bellinger and the Yankees agreed Wednesday to a five-year, $162.5 million contract, a source told MLB.com’s Mark Feinsand, with the club keeping its grasp on a player whom general manager Brian Cashman had identified among its top winter targets.
Bellinger will also receive a $20 million signing bonus and a full no-trade clause as part of the agreement, which has not been confirmed by the club and is pending a physical. The contract includes opt-outs after the 2027 and '28 seasons, with no deferrals included in the deal.
For months, Cashman and others in the organization voiced their intent to continue a relationship that had seemed an instant fit. Bellinger’s athleticism, personality and versatility made 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.
But negotiations moved slowly. Agent Scott Boras hinted in December that as many as eight teams had expressed interest in the 30-year-old Bellinger, who 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, having dealt 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 '19, when he was the National League’s Most Valuable Player with the Dodgers (8.7 bWAR).
The Yankees reportedly made at least two proposals to Bellinger, bending on opt-out clauses and the signing bonus, but refusing to go further than five years.
Though Bellinger was said to be seeking seven years and became the top available free agent bat once Kyle Tucker (Dodgers) and Bo Bichette (Mets) were off the board, a five-year pact ultimately proved to be enough.
Bellinger thus returns to a Yankees outfield that projects to feature Judge, the American League’s reigning MVP, in right field and Trent Grisham in center field. Bellinger could also see time at first base, spelling Ben Rice, though they are both left-handed hitters.
With Bellinger back in the fold, the Yankees may explore trade opportunities involving Jasson Domínguez or Spencer Jones (ranked by MLB Pipeline as the Yankees' No. 4 prospect), who had been in line to compete for the starting left-field job.
Domínguez’s celebrated prospect status has not yet translated into elite Major League production, with the 22-year-old “Martian” producing a .248/.327/.397 slash line (103 OPS+) in 149 games. Jones belted 35 home runs with a .932 OPS last season in the Minors, and Cashman acknowledged some other organizations probably would have already promoted him to the big leagues.
“If a situation presents itself down the road where you end up having a lot of good players for not enough spots, you figure it out,” Boone said in December. “You work it out, and then competition plays a big role too, where those things kind of work themselves out.”