Before It’s Too Late: Why Yankees Could Trade Cody Bellinger Now

The Yankees have stopped waiting. After weeks of back-and-forth negotiations with Cody Bellinger’s camp, New York has drawn a line in the sand that could reshape their entire 2026 roster.

Sources confirm the Yankees have offered Bellinger a five-year deal worth $160 million with two opt-outs—and they’re not budging. Even more surprising? They’ve made it crystal clear they won’t engage in a bidding war, even if the Mets or Blue Jays come calling. This is it. Take it or leave it.

The Standoff Everyone’s Talking About

For months, Bellinger’s agent Scott Boras has been pushing for a seven-year contract. Yankees’ reported AAV (~$31–32M) is a bit higher than Pete Alonso’s ~$31M AAV with Baltimore and higher than Kyle Schwarber’s ~$30M AAV with the Phillies.

But here’s where it gets interesting. Juan Soto signed a huge 15-year, $765M contract with the Mets last offseason — a completely different scale than the Yankees’ reported 5-year, ~$155–160M offer for Bellinger.

The timing couldn’t be more critical. The Mets just missed out on Kyle Tucker to the Dodgers and signed Bo Bichette instead. The Blue Jays struck out on Tucker, too. Both teams have money burning holes in their pockets and a desperate need for offensive firepower. Bellinger is the biggest bat left on the market.

Read more: Which team is better, the Yankees or the Orioles?

Why Freddy Peralta Changes Everything

Here’s the plot twist nobody saw coming. While negotiations with Bellinger drag on, the Yankees have quietly turned their attention to Milwaukee’s Freddy Peralta. The 29-year-old right-hander just posted a monster 2025 season with a 17-6 record and a 2.70 ERA. He struck out 204 batters in 176.2 innings pitched.

Think about what that means. If the Yankees can’t get Bellinger, they’re not scrambling for second-tier options. They’re pivoting to address their rotation needs instead. Peralta would instantly become their ace, giving them the frontline starter they desperately need for a playoff push.

Both the Yankees and Mets have already checked in on Peralta’s availability. Milwaukee is widely expected to trade him this winter since he’s headed for free agency next year. For New York, it’s a smart backup plan that could actually improve their World Series odds more than keeping Bellinger.

The Numbers That Matter

Let’s talk about what the Yankees would be losing. Bellinger hit 29 HR, 98 RBI, and 13 SB in 2025; he hit about .302 at Yankee Stadium vs about .241 on the road, showing a clear home-park boost. He played elite defense in left field and provided protection for Aaron Judge in the lineup.

But defense doesn’t tell the whole story. Bellinger hit just .266 on the road last season compared to .304 at Yankee Stadium. That short right field porch turned a lot of his fly balls into home runs. Would another team get the same production? The Yankees clearly have doubts.

A Peralta trade would cost top prospects, probably including names like Jasson Dominguez or Spencer Jones. Milwaukee won’t give up its ace cheaply. But for a team that needs reliable starting pitching to make a deep October run, it might be worth emptying the farm system.

What Happens Next

Spring training starts in a few weeks. The clock is ticking. Three scenarios are now in play.

First, Bellinger could accept the Yankees’ offer and take the guaranteed $160 million with opt-out flexibility after years one and two. It’s not the seven-year deal he wanted, but it’s still generational wealth with escape hatches if he performs well.

Second, Bellinger could sign elsewhere. The Mets and Blue Jays both have the money and the motivation to blow past the Yankees’ offer. If they do, New York walks away without looking back. No drama. No regrets. Just like they said they would.

Third, the Yankees could pull the trigger on a Peralta trade regardless of what happens with Bellinger. Why wait? If Milwaukee is willing to deal, New York should pounce before another team swoops in.

For Yankees fans, this moment feels like a test. After years of overpaying in free agency and coming up short in October, the front office is finally playing hardball. They’ve set their price, identified alternatives, and made peace with walking away.

The question is whether it’s enough. Or whether they’ll watch Bellinger rake for a division rival while their rotation struggles to keep them in games. Either way, we’ll have our answer soon.