MLB Hot Stove: The Cody Bellinger Bidding War Is Getting Ridiculous

If you’ve been following the MLB offseason even remotely closely, you probably have a profound sense of déjà vu right now. It is January, pitchers and catchers are practically packing their bags for Spring Training, and we are—yet again—talking about where Bellinger is going to play baseball.

It feels like we do this dance every single winter. But this time around, the drama has a specific flavor of irony that you just have to appreciate. We aren’t just watching teams throw money at a wall; we’re watching a full-blown custody battle between his two most recent exes: the Chicago Cubs and the New York Yankees.

The Yankees Are Doubling Down on Bellinger

Let’s be real for a second. The New York Yankees losing the World Series doesn’t sit well in the Bronx. They are in “win now” mode, and apparently, they think the answer might be bringing Bellinger back into the fold. According to reports from the New York Post, the Yankees have already slapped a second contract offer on the table.

This isn’t just a “checking in” text you send an ex at 2 AM. This is a serious pursuit. And it makes sense. Despite the rollercoaster that has been his career since his MVP days in LA, Bellinger has actually been pretty solid. We’re talking about a guy who, over the last three seasons split between Chicago and New York, has averaged 24 homers and 91 RBIs. He’s slashing .281/.338/.477. In this economy? That plays.

But the Yankees aren’t just sitting around waiting by the phone. Rumor has it they are also sniffing around the trade market for pitching, specifically engaging with the Brewers for Freddy Peralta and the Marlins for Edward Cabrera. It’s classic Yankees leverage: “Sign the deal, Cody, or we spend this money on an arm.”

The Cubs Won’t Let Go Without a Fight

On the other side of the ring, you have the Chicago Cubs. Bellinger opted out of his deal with them to test the waters, which is his right, but it seems Chicago isn’t ready to turn the page. MLB Network insiders are reporting that the Cubs are still very much engaged.

It’s almost funny when you think about it. The Cubs are reportedly looking at Alex Bregman and Bo Bichette, but they keep circling back to Bellinger. He’s the safety blanket they know works at Wrigley. He’s just 30 years old, heading into his 10th season, and offers that sweet, sweet defensive versatility at first base and outfield that managers drool over.

But here is the kicker: the Cubs are notorious for being careful with their checkbook. Are they really going to outbid a desperate Hal Steinbrenner? That remains to be seen.

The Kyle Tucker Factor

Here is the part that makes this whole saga annoying for fans who just want alerts on their phone to say “DEAL DONE.” Everything is being held up by Kyle Tucker.

Tucker is the shiny new toy on the market. He’s the “cream of the crop,” as the pundits say. But Bellinger is the domino that needs to fall first. Why? because he’s the “affordable” alternative. Teams like the Blue Jays, Giants, and Dodgers are all lurking in the shadows, waiting to see what the market price is for Bellinger so they can figure out if they can afford Tucker—or if they need to settle for the next tier down.

Until someone bites the bullet and signs Bellinger, the entire outfield market is essentially frozen in carbonite.

Meanwhile, The Rockies Are Being The Rockies

Just to cleanse the palate from the big-market drama, let’s look at the Colorado Rockies. In typical Rockies fashion, they haven’t done much of anything this winter. But now, new management seems to think trading their outfielders is the play.

Word on the street is they are shopping Brenton Doyle and Mickey Moniak to get some pitching. Good luck with that. Doyle had a down year in 2025 (slashing .233/.274/.376), and Moniak has a split that screams “I can only hit at Coors Field.” His road stats are… well, let’s just say they aren’t going to have GMs knocking down the door. It’s a bold strategy to sell low on your assets, but hey, that’s baseball in the mountains for you.

The Bottom Line

We are weeks away from Spring Training. The Yankees are making multiple offers. The Cubs are hovering. And Bellinger is sitting pretty in the middle of a bidding war that keeps his value high while holding the rest of the league hostage. Grab your popcorn, folks. This is about to get messy.