New York Yankees Secure Cody Bellinger with $162.5M Deal

The New York Yankees have reached a significant agreement with outfielder Cody Bellinger on a five-year contract worth $162.5 million, as reported by ESPN’s Jeff Passan on March 15, 2024. This deal marks the conclusion of a prolonged negotiation period, reflecting the mutual desire of both parties to solidify their collaboration following Bellinger’s impressive performance last season.

The contract includes opt-out clauses after the second and third years, along with a $20 million signing bonus and a full no-trade clause. Bellinger is expected to return as the Yankees’ primary left fielder, a position he occupied for the majority of the previous season, starting 59 games there. His arrival may lead to a shift in roles for Jasson Dominguez, who was anticipated to be the everyday left fielder despite his struggles during his rookie year.

Bellinger’s return has been a top priority for the Yankees ever since he declined a $25 million player option for 2026 and entered free agency. Last season, he notably thrived in his first year with the Yankees, batting .272 with 29 home runs and an .813 OPS over 152 games. His performance included leading all left-handed hitters in on-base percentage (.415) and slugging percentage (.601) against left-handed pitching.

The switch-hitting outfielder also showcased his defensive prowess, accumulating seven Outs Above Average and eight Defensive Runs Saved across three outfield positions and first base. With a 4.9 fWAR, Bellinger ranked tied for 18th in major league baseball, matching the output of Kyle Schwarber, the National League MVP runner-up. This season marked a resurgence in Bellinger’s career following a series of injuries that had plagued him since winning the 2019 NL MVP award.

Bellinger’s journey to this landmark contract has been marked by ups and downs. He first gained recognition with the Los Angeles Dodgers, winning the 2017 National League Rookie of the Year award, followed by his MVP title two years later. However, his career faced challenges after he injured his shoulder during the 2020 World Series, which led to a significant decline in performance over the next three seasons. During that period, he managed only a .203 batting average and a .648 OPS across 295 games.

After the 2022 season, the Dodgers opted not to tender him a contract, leading Bellinger to sign a one-year deal with the Chicago Cubs for $17.5 million. He rebounded with a strong performance, batting .307 with 26 home runs and an .881 OPS, which earned him a spot in the top ten of NL MVP voting. Despite his success, he did not secure a long-term contract, ultimately re-signing with the Cubs on a three-year, $80 million deal that included opt-outs.

In December of the previous year, the Cubs traded Bellinger to the Yankees for right-hander Cody Poteet as part of a strategy to relieve salary after acquiring Kyle Tucker from the Houston Astros. The Yankees were looking to strengthen their outfield after shifting away from pursuing Juan Soto. Bellinger quickly became one of the Yankees’ most valuable players, thanks to his all-around abilities that convinced the organization of his worthiness for this investment.

With Bellinger’s signing, he becomes the fifth player the Yankees have retained this offseason, joining outfielder Trent Grisham, left-hander Ryan Yarbrough, utilityman Amed Rosario, and right-hander Paul Blackburn. As the season approaches, the Yankees are looking to build on their recent successes with a roster that reflects both talent and depth.