With the 2025 season behind us and the hot stove ready to burn, we’re taking a closer look at some of the most prominent players eligible for free agency.
Name: Cody Bellinger
Position: Outfielder/First baseman
Team: New York Yankees
Age (as of Opening Day 2026): 30
2025 stats: 152 games, .272/.334/.480 (.813 OPS), 29 HR, 98 RBIs, 89 R, 125 OPS+, 4.9 fWAR
Qualifying Offer: Yes (Declined)
Cody Bellinger is no stranger to free agency.
The 2017 National League Rookie of the Year and 2019 NL Most Valuable Player is on the open market for the third time in the past four offseasons, hoping to finally find the long-term deal that evaded him after the 2022 and 2023 seasons.
Bellinger opted out of the final year and $25 million of the three-year, $80 million deal he signed with the Cubs prior to the 2024 season, looking to parlay his strong season with the Yankees into a lengthy contract that will take him into his mid-to-late 30s.
“This should be the best market he’s had,” said an American League executive. “He was a real difference-maker for the Yankees this season.”
Bellinger hit 29 home runs with 98 RBIs and an .813 OPS in his first season with the Yankees, registering a +7 Outs Above Average while playing all three outfield positions in addition to first base. Although Bellinger hasn’t been able to replicate his incredible 2019 MVP season, he had the second-highest bWAR (5.0) and fWAR (4.9) of his career in 2025, posted a career-low strikeout percentage (13.7) and ranked third among all left fielders in fielding run value. He also saw jumps in his hard-hit percentage (37.9) and walk percentage (8.7).
Bellinger played 85 games in left field, 52 in right and 41 in center in 2025, also getting seven games at first base. His versatility will surely make him an attractive option for a number of clubs with differing needs, widening his market more than most position players.
His numbers against left-handed pitching should also generate interest around the league; Bellinger had a .353/.415/.601 slash line in 176 plate appearances against lefties, striking out only 9.7 percent of the time. Only one other left-handed hitter since 2002 has posted an OPS above 1.000 while striking out less than 10 percent of the time against lefties in at least 100 plate appearances: Barry Bonds, who did it in 2002 and 2004.
Let’s take a look at how Bellinger’s offseason might play out.
The Yankees and Bellinger were a perfect match, and a reunion here makes sense for both parties. Yankee Stadium is built perfectly for his swing, evidenced by Bellinger’s .912 career OPS in the Bronx, and his positional versatility gives manager Aaron Boone lineup options. New York is the clear favorite to sign Bellinger.
If Bellinger and the Yankees can’t find common ground, the Mets could swoop in and steal a star from their crosstown rivals for a second straight offseason. The Mets clearly have the financial wherewithal to sign Bellinger, and with the lineup potentially facing the loss of Pete Alonso, adding a big bat will be in their plans this winter. Starling Marte and Cedric Mullins are free agents, leaving an opening in the outfield, though Alonso’s departure would also leave the Mets in need of a first baseman.
Like everything else with the Phillies this winter, their plans hinge upon the return of Kyle Schwarber. If Philadelphia loses its slugger, the need for an impact bat will be obvious. Harrison Bader and Max Kepler are also free agents, while Nick Castellanos is expected to be traded or released, leaving a need in the outfield. Bellinger would be an ideal addition in center field for a club whose window is beginning to close due to age.
The Cubs are focused on adding pitching this winter, but the potential loss of Kyle Tucker leaves a gaping hole in the outfield. Bellinger and the Cubs already know each other — he played for Chicago in 2023-24 — and he has performed well at Wrigley Field (.812 OPS in 140 games). Chicago might balk at paying the price for Bellinger given its need for pitching, but the match makes sense since he’ll cost less than Tucker.
It was only three years ago that the Dodgers non-tendered Bellinger, whose performance fell off precipitously after he won National League Rookie of the Year in 2017 and MVP in 2019. But Los Angeles has a glaring need in center field and knows Bellinger well; have the past few years given the Dodgers the belief that Bellinger’s struggles from 2020-22 are firmly behind him?
The Giants added a big bat last winter with the signing of Willy Adames, but the need for a left-handed weapon still exists. Oracle Park is not an ideal ballpark for a power hitter, though Bellinger’s speed would help him both offensively and defensively — and the Giants could certainly use a defensive upgrade in the outfield. San Francisco’s primary focus appears to be adding pitching, but after ranking 10th in the National League in runs scored and 12th in OPS from its outfielders, Bellinger would be an ideal fit to add to the lineup.
Detroit might be saving its dollars with the hope of re-signing Tarik Skubal next winter, but beefing up the roster this winter could help convince Skubal that he should stay with the Tigers. Bellinger would be a huge upgrade in center field over Parker Meadows, while he could also see some time at first base, allowing Spencer Torkelson to get some at-bats at DH.
“I do think he will get a more substantial guarantee than the last few years,” an NL executive said. “He’s proved he can stay healthy, he’s still on the younger side and he’s an athlete who can legitimately play multiple spots.”
There are several reasons for the Yankees to bring Bellinger back, but none more compelling than his home/road splits in 2025. In 80 games at Yankee Stadium, Bellinger slashed .302/.365/.544 (.909 OPS) with 18 home runs and 55 RBIs. In 72 road games, those numbers dipped to .241/.301/.414 (.715 OPS) with 11 home runs and 43 RBIs. For any other club besides the Yankees, Bellinger’s numbers in the Bronx must be taken into consideration.
Bellinger is entering his age-30 season, giving us some notable comparisons from recent years. Kris Bryant signed a seven-year, $182 million deal with the Rockies at the same age, while George Springer landed a six-year, $150 million contract from the Blue Jays prior to his age-31 campaign. Bellinger’s last deal had an average annual value of $26.66 million, so it wouldn’t be a surprise to see him exceed that slightly over a longer-term contract.
