GM Brian Cashman's decision to trade for Cody Bellinger was a big win for the New York Yankees. The veteran outfielder's bounce back season also serves as a win for his bank account as he heads towards unrestricted free agency heading into the 2026 campaign.
To the surprise of absolutely no one associated with the AL East powers, Bellinger intends to opt out of the final season of his contract with the Yankees. The deal would have paid him $25 million, but he has a chance to lock in a lucrative, long-term extension in free agency. This likely represents the last opportunity for the 30-year-old to break the bank with that kind of deal on the open market.
The Yankees will certainly have interest in bringing Bellinger back. He posted a WAR of 5.0 last season on the back of a 29 home run effort. He also provided New York with real value with his contact skills and defensive acumen at multiple outfield positions. His power numbers might have been slightly inflated by playing inside the comfortable confines of Yankee Stadium, but there is clear pop left in the southpaw's bat.
Who will be in the Yankees' outfield next season?
Cashman and the higher-ups know that change is coming to the roster that failed to end the franchise's World Series drought a few weeks ago. The outfield represents a real chance to shake up manager Aaron Boone's options. The only given is that perennial MVP candidate Aaron Judge will occupy one spot as long as he stays healthy. Giancarlo Stanton might play some games in the field as well, but his health will restrict him to designated hitter duties for the most part.
Trent Grisham is also headed to free agency after the best season of his career. He will also be looking for a big deal in the offseason, but he won't have nearly the sort of leverage Bellinger can wield with other teams. The Yankees and the rest of the league understand that the odds are stacked against Grisham putting up similar offensive numbers in 2026. His subtle slippage in the outfield means his future likely lies outside of New York unless he's ready to take a steep discount to remain in pinstripes.
Jasson Dominguez played 123 regular-season games for the Yankees before losing his spot in the lineup ahead of the postseason. He wasn't a difference-maker for the team last year, but it's important to remember he was playing his age-20 season in the big leagues. He's still a big part of New York's long-term plans, and that means he should enter Opening Day with a starting role to his name.
Veterans like Amed Rosario (if re-signed) and Oswaldo Cabrera (if healthy) might factor into the Major League roster as versatile bench pieces, but neither profiles as an everyday starter for a team with legitimate World Series aspirations. That leaves one obvious starting spot open for the Yankees to fill in the offseason.
Cody Bellinger is not the only player who can fill that void
If the Yankees opt to spend in free agency to find their third outfield starter then Bellinger has serious competition. Kyle Tucker struggled at times for the Cubs in 2025, but he played his best baseball down the stretch in Chicago. He'll enter free agency as arguably the most attractive outfielder to hit the open market. He will likely cost more than Bellinger in terms of years and dollars, but the Yankees could envision him as the next superstar to don pinstripes.
Young slugger Spencer Jones could also provide New York with a cost-controlled option to take over for Bellinger. He's slipped to the No. 4 spot on the organization's prospect rankings, but there's not much left for him to prove in the minor leagues. There are real questions over whether Jones can make enough contact to be a quality regular in the majors, but he has legitimate power and speed that can make him an above-average defender in the outfield.
It's easy to envision a scenario where the Yankees promote Jones to the big league roster and give him a large amount of runway to claim a starting spot for his own. That would, theoretically, give the team's front office a lot of buying power they might leverage at other positions in free agency.
So will the Yankees re-sign Cody Bellinger?
Bringing Bellinger back into the fold fields like the middle-of-the-road option for Cashman and his front office. If they can convince Bellinger to take a deal of five years or fewer, then they should be able to meet his salary demands.
Something like a five-year, $175 million deal would allow Bellinger to capitalize on his big year in the Bronx. It would also buy New York time to let Dominguez and Jones develop without the pressure of being middle of the lineup hitters in 2026.
It only takes one team to blow up the Yankees chances to bring Bellinger back on a reasonable deal, but the odds are in their favor. They should not panic to retain his services the minute free agency begins, but a good, strong offer in the first few days should be on Cashman's to-do list.