Breaking: Cody Bellinger Finally Signing Free Agent Deal

Maybe it was the New York Mets' earlier trade for Luis Robert Jr., and the fact there were simply no other serious suitors left, but free agent outfielder Cody Bellinger has finally relented and will be re-signing with the New York Yankees.

Cody Bellinger's deal with the Yankees is for five years and $162.5 million, sources tell ESPN. There are opt-outs after the second and third season, a $20M signing bonus and a full no-trade clause.
— Jeff Passan (@JeffPassan) January 21, 2026

It's a five-year deal worth $162.5 million, and there are no deferrals. In addition, he gets an opt-out after the second and third years, plus a $20 million signing bonus. The contract carries an AAV of $32.5 million, and comes with a full no-trade clause.

The five-year term is, of course, a win for the Yankees, and a loss for agent Scott Boras, who was threatening not to have his client re-sign with the Yanks for less than seven years. But again, that's what having only one bidder will do for you.

Bellinger had a strong season in New York in 2025, hitting .272 with 29 home runs and 98 RBIs over 152 games. He had an .813 OPS and a 125 OPS+.

He was the 2019 NL MVP while with the LA Dodgers, but a few bad seasons in a row led to LA dropping him, and he revitalized his career with the Chicago Cubs in 2023. '24, though, was another off-year of sorts, so the Cubs moved on, and Belli took to Yankee Stadium in '25 in a big way.

He'll join Aaron Judge and Trent Grisham back in the Yankees outfield.