Yankees prepared to let Cody Bellinger walk after latest offer

It was only two days ago that I wrote about a potential bidding war between the Yankees and Mets for Cody Bellinger. It was a logical assumption, based on Steve Cohen’s whiff on Kyle Tucker, the Mets’ need for a corner outfielder and the limitless cash that’s always available in Flushing. But I’ve since been told that an inter-borough war – as irresistible as it might be for Hot Stove junkies to follow – will probably never get off the ground. The Yankees have made the internal decision to hold the line on Bellinger. They’re convinced their latest offer (five years, $160 million, two opt-outs) is not only fair, it’s their last proposal. While the door remains open for further talks with agent Scott Boras, the message to Bellinger’s camp is unmistakable: take it or leave it. Yes, Hal Steinbrenner is aware he’s leaving the door open to Cohen’s war chest, assuming the Mets’ tycoon is interested in Bellinger. That remains to be seen, given how quickly Cohen pivoted from losing Tucker to the Dodgers to signing Bo Bichette. There are alternate scenarios for the Mets, including chasing lefty Framber Valdez. He could worth as much as $150 million over 5-6 years. The former-Astro has piqued the interest of the Mets, Orioles, Cubs and Giants. But plucking Bellinger away from the Yankees would address the Mets’ need for a replacement for Brandon Nimmo. And, let’s face it, there’s always the dividend of out-bidding the Yankees for a second straight year, as was the case with Juan Soto. But as of now, Steinbrenner has decided he’s gone far enough with Bellinger. Talks with Boras stalled last week after the two sides moved closer on a new contract’s annual average value - $32 million per. But then came the deal-breaker. Boras still wants seven years. The Yankees aren’t budging off five. “If (Boras and Bellinger) can do better than that, the Yankees’ attitude is, ‘fine, take it, good luck,’” is how one major league source put it this weekend. If history has taught us anything, it’s that Boras won’t cave any time soon. He’s been known to keep his clients on the sidelines while he inevitably sniffs the industry’s one panicked owner. Mets first baseman Pete Alonso held out until February 12 before signing re-signing with the Mets last year (he opted out after one season and has since moved on to the Orioles). And lefthander Blake Snell didn’t sign with the Giants in 2024 until March 19 – and even then it was for only one year. So there’s no reason to think Bellinger’s free agency will be resolved quickly. There’s no market interest in Bellinger at seven years. That’s the angle the Yankees are counting on. Remember, they like Bellinger. He’s on good terms with everyone in the franchise, especially popular in the clubhouse. He’s skilled at four positions, has a home run swing suited for the Stadium short porch in right, and has family ties to the Pinstripes. Bellinger blasted 29 HRs and hit .348 with runners in scoring position last year, eight points higher than Aaron Judge. Bellinger has rightfully carved out a reputation as an MLB star – which is not as a superstar. That’s why the Yankees are holding firm. They believe five years is a reasonable commitment to a player of Bellinger’s talent level and age (he’ll be 31 in July). The time for a longer-term deal would’ve been in Bellinger’s 20s, when he was one of the Dodgers’ best players. The Yankees are playing a hunch that Boras will eventually see the light. It wouldn’t be the first time the super-agent read the market incorrectly. In both Alonso’s and Snell’s cases, the late, short-term deals were hatched because Boras couldn’t drum up interest elsewhere. But just as Boras is gambling, so are the Yankees. Cohen could easily swoop in with an insane over-pay, leaving the Bombers with no discernible upgrades over last year’s club. Even with the expected return of Gerrit Cole, Carlos Rodon and Clarke Schmidt, as well as a full season from Cam Schlittler, the offense will have to replace Bellinger’s clutch-quotient at the plate and versatility on defense. Bichette was being sought after as a Plan B until – you guessed it – Cohen outbid everyone. For now, the plan is to give Jasson Dominguez a shot as the everyday left fielder, hope Trent Grisham can duplicate last year’s 34 home runs, and prep top prospect Spencer Jones for his inevitable call-up to the Bronx. That combo won’t likely be enough for another 94 wins, even if the rest of the AL East looks less threatening than in 2025. Most of the off-season talent has migrated to the National League. That’s a blessing for the Yankees as they approach Year 17 of the current championship drought. Their best option, of course, is to bring Bellinger back. Time will tell. Until then, the stare-down continues.