Cody Bellinger Reportedly Opts Out of $25M Yankees Contract, Enters MLB Free Agency

Outfielder Cody Bellinger declined his $25 million player option for the 2026 season, making him a free agent, according to Jon Heyman of the New York Post.

ESPN's Jorge Castillo had previously reported that Bellinger intended to opt out of his deal with the New York Yankees and test the open market.

The Yankees acquired Bellinger from the Chicago Cubs last December for right-handed pitcher Cody Poteet. He enjoyed a productive season in New York, hitting .272/.334/.480 with 29 home runs and 98 RBI while scoring 89 runs. Bellinger was excellent in the field as well with 11 total runs saved, per Fielding Bible.

Bellinger arrived in the majors in 2017 with the Los Angeles Dodgers, and he provided an immediate positive impact, hitting 39 home runs and posting a .933 OPS while winning NL Rookie of the Year honors, making the All-Star Game and even finishing ninth in the NL MVP race. He helped L.A. win the NL pennant as well.

Bellinger's best season was 2019, when he won NL MVP honors after hitting .305 (1.035 OPS) with 47 home runs and 115 RBI.

Bellinger then endured a three-year slump, in part because of numerous injuries suffered during the 2021 season, when he hit just .165 over 95 games. From 2020-2022, Bellinger hit just .203 (.648 OPS).

After the 2022 season, Bellinger left the Dodgers for the Cubs in free agency on a one-year, $17.5 million deal. He enjoyed a great bounce-back campaign in 2023, hitting .307 (.881 OPS) with 26 home runs and 97 RBI in 130 games. Bellinger finished 10th in the NL MVP race and earned his second career Silver Slugger award.

He re-signed with Chicago on a three-year, $80 million deal after the season. Following the 2024 campaign, the Cubs went in a different direction, adding outfielder Kyle Tucker from the Houston Astros, leaving Chicago with extra players at the position. And so Bellinger went to the Bronx, a place his father, Clay Bellinger, called home from 1999-2001 as a utility man for the Yanks.

Bellinger enjoyed a great 2025 season, but this is a situation where the 30-year-old should cash in on a fantastic year and look for a lucrative, long-term deal.