Latest Yankees Trade Rumors on Freddy Peralta After Cody Bellinger's $162.5M Contract

After re-signing star outfielder Cody Bellinger to a five-year, $162.5 million contract on Wednesday, the New York Yankees are reportedly ready to address the rest of their roster needs.

According to The Athletic's Chris Kirschner, league sources say that New York "continues to show interest in" trading for Milwaukee Brewers starting pitcher Freddy Peralta.

Kirschner described Peralta as "the perfect trade candidate for the Yankees" and explained that they can "potentially sweeten a trade" for Milwaukee's ace by "including a major-league-ready bat, along with the young, controllable pitching the Brewers seek." He named outfielders Jasson Domínguez and Spencer Jones and pitchers Luis Gil, Will Warren, Elmer Rodriguez and Carlos Lagrange as potential trade options for New York in their pursuit of Peralta.

After a few years of middling production, Peralta returned to form in a big way in 2025. He earned his second career All-Star selection and finished with a 17-6 record, a career-best 2.70 ERA and 204 strikeouts in 176.2 innings pitched. He led the National League in wins after going 27-23 in the previous three seasons combined.

Re-signing Bellinger is the first major move in what has been a quiet offseason for the Yankees, who are coming off another disappointing playoff exit. The Bronx Bombers were once the biggest spenders in MLB, but they spent this winter watching the back-to-back World Series champion Los Angeles Dodgers reload with the additions of outfielder Kyle Tucker and closer Edwin Diaz.

Adding Peralta would certainly help the Yankees keep up in the arms race, but the landscape isn't getting any easier as they continue chasing their first World Series title since 2009.