MLB insider hints at Yankees-Cubs salary dump trade involving former MVP

The rumor mill still needs a bit of a kickstart, but we're getting nuggets of information as we inch closer to the Winter Meetings. The New York Yankees have been involved in a few, including the most recent involving the Chicago Cubs.

Per the latest buzz, the Cubbies are looking to trade Cody Bellinger, who exercised his $27.5 million player option this offseason in a move that likely took Chicago's front office by surprise. That said, what are the Cubs even doing? You gave him the player option knowing that there'd be a higher likelihood he would opt in because he's no longer the player he once was. That just goes to show where the Cubs are at right now as a franchise.

Where do the Yankees come into the picture? Well, here's what Ken Rosenthal wrote in his latest column:

"The Yankees in the past have liked Bellinger, whose father Clay played for them from 1999 to 2001. Bellinger presumably could be one of their options if they lose Soto and replace him with multiple players. But the $32.5 million Bellinger is guaranteed would mitigate the return in some fashion. The Cubs might need to take back an inflated contract, or accept marginal prospects in a deal."

There's a $5 million buyout attached to Bellinger's 2026 player option, so that's where the $32.5 million figure comes in. Regarding a fit, there are only two instances where this would make sense. Let's start with the easier one.

Do Yankees have any ability to add Cody Bellinger in 2025?

Right now, the Yankees do not have a first baseman, unless you're penciling in Ben Rice as the starter in 2025. Bellinger, who is a center fielder by trade, has a ton of first base experience, so there's a world in which New York "upgrades" at first base by trading an abundance of nothing to Chicago and taking on all of Bellinger's salary. How's that for a win-now move, Juan Soto? Perhaps that aggressiveness will play a part in convincing the slugger to re-sign, or maybe it's a "good faith" move the Yankees make after he does.

On the other end of the spectrum — a world in which Soto departs — the Yankees can still have their way here. Since the Cubs are looking for an out in this contract, maybe they ship DJ LeMahieu or Marcus Stroman over to Chicago (along with a prospect) in exchange for Bellinger. That way, the Yankees offload some of their dead money and the Cubs get out of a deal they can't stomach (Bellinger makes significantly more than both parties). In this scenario, Bellinger takes over in center field (or left, depending on Jasson Dominguez's status), Aaron Judge shifts back to right, and then they have Bellinger as a first baseman in their back pocket potentially for 2026. The Yankees technically "get better" here and don't absorb too much money in order to do so.

Still, this is a bit of a dangerous game to play, knowing Bellinger's injury history and overall inconsistency. At the very least, Bellinger represents a short-term risk (two years) as opposed to this year's free agency class, which will likely be just as costly on the dollar side, but will require a much lengthier commitment.

While scoffing at the idea of acquiring Bellinger (something that has been a discussion for about two years now), this time it seems like the Yankees might be able to get their way if their interest hasn't waned.