The New York Yankees have reportedly made multiple offers to Cody Bellinger over the past several weeks, as the team looks to lock down one of the most versatile and productive outfielders available this offseason, sources tell The Athletic’s Brendan Kuty.

According to Kuty, the most recent Yankees offer carries an average annual value exceeding $30 million, a figure that would place Bellinger among the highest-paid outfielders in the sport, though the contract’s total length remains the sticking point in negotiations.

Bellinger’s camp, as Kuty reports, is pushing for a seven-year deal, seeking long-term security for the 30-year-old slugger, while the Yankees appear more comfortable with a shorter commitment, likely in the four- to five-year range, according to Jon Morosi of MLB Network.

If the Yankees and Bellinger can reach a compromise on length, the resulting contract would mirror other high-profile offseason deals, such as Kyle Schwarber’s five-year, $150 million pact with the Phillies or Pete Alonso’s five-year, $155 million agreement with the Orioles.

MLB Trade Rumors has projected a five-year, $140 million contract for Bellinger in its top-50 free-agent list, suggesting a midrange figure that balances his performance, versatility, and market value while keeping the Yankees competitive in salary allocation.

A deal surpassing $30 million per season would place Bellinger in elite company, joining the likes of Juan Soto, Aaron Judge, Mike Trout, and Mookie Betts as the only outfielders commanding that level of annual compensation in Major League Baseball.

Bellinger’s market value has risen significantly in recent years, contrasting with earlier seasons when teams were hesitant to commit long term. After leaving the Dodgers in 2022, he signed a one-year, $17.5 million deal with the Cubs, a far cry from the current $30 million-plus discussions.

His first season with Chicago rewarded the team with a 20/20 campaign, including 20 home runs and 20 stolen bases, though that performance was not sufficient to earn a long-term deal immediately, leading to a subsequent three-year, $80 million contract with opt-outs after each season.

Bellinger did not exercise his opt-out after a middling 2024 season, but a strong 2025 campaign with New York prompted him to opt out of the final year of his contract, signaling confidence in commanding top-tier compensation in the free-agent market.

Last season in New York, Bellinger slugged 29 home runs, the most since his 2019 National League MVP campaign, while also contributing 13 stolen bases and nearly 100 RBIs, providing a balanced offensive profile across both power and speed metrics.

Defensively, Bellinger excelled in 2025, recording +11 Defensive Runs Saved and +7 Outs Above Average, while logging over 300 innings across all three outfield positions. He also made a handful of appearances at first base, demonstrating positional versatility.

While the Yankees didn’t require his infield services due to Paul Goldschmidt, having Bellinger available at first base provides insurance and roster flexibility, adding value beyond his contributions in the outfield.

Bellinger’s improvements extend beyond counting stats, with his hard-hit rate rising to 37.9% in 2025, a noticeable increase from 31.4% in 2023 and 32.9% in 2024, suggesting his underlying metrics are trending upward despite inconsistent results in prior seasons.

Bat speed and contact quality have also improved, as his swinging-strike rate dropped to 7.6%, and he posted a 13.7% strikeout rate, both career bests, while maintaining a 91% zone contact rate, ranking 26th among qualified hitters in the league.

These metrics suggest Bellinger’s success could continue in New York, as improved batted ball quality, elite contact skills, and positional versatility make him a valuable asset capable of contributing at both the plate and in the field, even as he approaches age 31.

Road splits remain an area of concern, as he slashed just .241/.301/.414 away from Yankee Stadium, highlighting the need for continued consistency and adaptability when performing outside of his home park, which could factor into the Yankees’ negotiations on contract length and value.

Ultimately, the Bellinger-Yankees negotiations will hinge on balancing length and value, with the outfielder seeking long-term security while the team navigates payroll priorities, creating a delicate negotiation dynamic for one of MLB’s most productive and versatile free-agent bats.