The New York Yankees and Cody Bellinger are locked in this offseason's most annoying stalemate. The Yankees made what they believe to be a fair offer to Bellinger after his strong 2025 campaign with the club, but Bellinger and agent Scott Boras are looking for a deal larger than the one New York has been offering. So far, they've been unsuccessful in their quest.
It's clear at this point that the Yankees will not adjust their offer at all. This means that if Bellinger cannot find a better deal, he's probably Bronx-bound. If he does, though, the Yankees will let him go elsewhere. Any of these teams that aren't exactly in the running for the outfielder could conceivably take advantage of the fact that an impactful free agent remains available for the taking in mid-January and sign Bellinger, but some are far more likely to show real interest in doing so than others.
5. Los Angeles Angels
On the surface, a Los Angeles Angels team unlikely to be competitive that hasn't spent much money in recent years is unlikely to pursue Cody Bellinger. However, the Angels could conceivably make room for Bellinger even after trading for Josh Lowe, and the Arte Moreno factor cannot be ignored.
Moreno has not spent much in recent years, but he has not shied away from spending in the past, especially when discussing a big-name position player. In his mind, Bellinger is a popular player who could potentially drive fans to the stands and make the Angels a bit better. Plus, they no longer owe Anthony Rendon his full pay for this season after agreeing to a buyout, so they should, in theory, have money to spend.
I don't see it because it makes little to no baseball sense for the Angels to make such a hefty commitment when they're so far away from competing, but the odds of Moreno making such a move himself are higher than zero, making the Angels somewhat of a sleeper.
4. San Francisco Giants
Oracle Park would not be a great fit for Bellinger's bat, but the San Francisco Giants could use a corner outfielder, and Bellinger is by far the best attainable option. Yes, he'd cost a lot, and that could be problematic for a Giants team that's shown no willingness to spend this winter, but perhaps Buster Posey will come to the realization that the only way the Giants can make the playoffs is by improving their roster.
Why bother signing Willy Adames and trading for Rafael Devers last season, only to stop spending this winter? The Giants have roughly $17 million to spend before even dipping into the luxury tax, and there's a way they can structure a Bellinger deal to avoid going into the tax this season.
Again, I don't love the fit, and the Giants have shown no desire to spend, but they should be willing to spend, even if it's for a player who doesn't fit perfectly. Bellinger would be a massive upgrade over what they've got, even with his flaws, and he'd give the Giants the best chance to win now in the primes of their stars' careers. The Giants' need to do something puts them on this list, even if it's unlikely to amount to anything.
3. Philadelphia Phillies
The Philadelphia Phillies are in a similar boat to the Giants. They've been unwilling to spend big money this winter other than to re-sign Kyle Schwarber and to try and woo Bo Bichette to the City of Brotherly Love, and the fit isn't the best with Bellinger being yet another left-handed hitter, but beggars can't be choosers.
The Phillies need to improve their offense. They admitted such by pursuing Bichette. Bellinger might not be the hitter Bichette is, but he's a really good one nonetheless, and he's a much better defender and base runner. Plus, I'd argue the outfield is much more of a weakness than the infield, so signing Bellinger, an outfielder, could prove to be even more helpful.
It's probably unlikely the Phillies meet Bellinger's asking price, but if they were willing to give Bichette a seven-year deal, perhaps they'd be willing to offer Bellinger something similar. Their willingness to offer Bichette a contract puts them ahead of the Giants, even if the fit isn't ideal. Signing Bellinger and then trading Brandon Marsh for some pitching depth would be wise.
2. Toronto Blue Jays
Now we've reached the favorites among the sleeper teams. The Toronto Blue Jays were in the thick of the Kyle Tucker sweepstakes but fell short. Now that they whiffed on re-signing Bo Bichette as well, a logical pivot would be Bellinger, right? No, the Jays haven't really been linked to Bellinger, but the fit makes too much sense.
Toronto has room in its outfield for another bat, and Bellinger, an athletic outfielder who plays tremendous defense in the corners, hits both lefties and righties well, has power and doesn't strike out, fits right into the mold of the kinds of players they like.
The Jays were reportedly willing to give Tucker a 10-year deal. Yes, he's better and younger than Bellinger, but if Tucker got an offer of 10 years from Toronto, who's to say Bellinger, a player only a couple of years older, couldn't get a five or six-year deal from the Jays? They'd get better, and perhaps equally as important, they'd make the Yankees worse with no logical pivot. This makes too much sense not to get talked about more seriously, the longer this standoff sustains.
1. New York Mets
The New York Mets are really the only team that's been linked to Bellinger other than the Yankees, and I'm honestly not sure how interested they are in signing him. I mean, immediately after whiffing on Tucker, they signed Bichette, not Bellinger, who would've seemingly been the perfect Tucker fallback plan.
Still, even with Bichette in town, the Mets are reportedly interested in signing Bellinger to a short-term high-AAV deal, similar to the kind of contract Bichette just agreed to. Bellinger agreeing to such a deal, especially after just opting out of one, is probably unlikely, but what if the Mets offer him an absurd AAV, much like they did with Bichette?
The fit with Bellinger is obvious. New York still needs to add at least one outfielder to the mix alongside Juan Soto, and even with Bichette, could use another big bat. David Stearns emphasized run prevention early this offseason, and Bellinger, a tremendous defender, would help in that regard. Oh yeah, he could even chip in at first base with Pete Alonso now in Baltimore. If (and it's a big if) Bellinger is willing to entertain a short-term deal, the Mets might go from underdogs to favorites in an eye blink.