The New York Yankees and Chicago Cubs hit a snag in trade talks around first baseman Cody Bellinger, but the free agent market is looking costly too, according to new reports.
On Sunday, Jon Heyman of the New York Post reported there is “still a gap” in the discussions between the two teams around who will assume the final year(s) of Bellinger’s contract.
Bellinger, 29, is two seasons removed from winning a Silver Slugger award in the outfield, but slumped a bit in 2024, slashing .266/.325/.426 — good for a 111 OPS+. A versatile defender, Bellinger is capable of providing above average defense in center field, first base and both corner outfield positions.
However, he was unwilling to test the free agent market this winter and instead opted in to the second year of a three-year, $80 million contract that pays $27.5 million in 2025. If Bellinger opts in to the third year of the deal, the Cubs will owe him $25 million in 2026.
Whether or not the two sides reach agreement on a trade could hinge on whether the Cubs are willing to absorb some of the salary risk involved in Bellinger’s contract.
If they are not, there are other obvious choices for the Yankees to fill the first base job that was a sore spot for them in 2024. The incumbent, veteran Anthony Rizzo, hit .228 with eight home runs in a campaign limited to 92 games by injuries. He became a free agent after the season and is unlikely to return.
Pete Alonso and Christian Walker were both extended qualifying offers, meaning that they will cost their next team draft-pick compensation if they do not re-sign with the New York Mets or Arizona Diamondbacks, respectively.
Other free agent options at first base include Paul Goldschmidt, Josh Bell, Carlos Santana, and Justin Turner.
However, Jack Curry said Monday on the YES Network that the cost to acquire first basemen via free agency — Curry specifically mentioned Walker — is no proving no less appealing to the Yankees thus far in the offseason.
For that reason, the Yankees might continue to pursue first base options via trade until or unless the price of free agent hitters falls.
Days after learning Juan Soto had opted to sign a 15-year, $765 million contract with the New York Mets over the Yankees’ final offer, Max Fried agreed to terms on an eight-year, $218 million to join the Bronx Bombers.
Soto’s market might have raised the expectations for every free-agent hitter this offseason. The hot stove has cooled notably in the week since the terms of Soto’s agreement with the Mets became public, and might need more time to thaw — not just for the Yankees, but for every team with lineup holes to fill this winter.
