Projecting a Yankees-Cody Bellinger contract extension as fan admiration grows

In just a matter of five days, Cody Bellinger arguably saved the New York Yankees' season with one of the best defensive plays of the entire year and clobbered three home runs in a single game (missing his fourth by inches) as the team has ripped off a five-game winning streak.

If he wasn't already a fan favorite, he sure is now, and many are jumping ahead to the offseason with uncertainty on the horizon. Bellinger has a player option for 2026 that, at this rate, he's almost guaranteed to decline if he keeps up this performance (or even a semblance of it).

Overall, he's been a breath of fresh air in every way for Yankees fans. He plays multiple outfield positions at a high level and can fill in at first base if needed. He's a lefty bat that can hit for average and power, and he's massively cut down on his strikeouts (14.4%). He's clutch, hitting .313 with a .925 OPS with runners in scoring position.

He's ... cool? He likes being a Yankee. He's not one to crumble under pressure. He's a real human when speaking to the media. He has a connection to the organization after growing up as a fan that makes this all the more desirable.

What would a Yankees-Cody Bellinger contract extension look like in 2025?

Yankees fans want him for the long haul. The front office should too. But this is a business. And if Bellinger is one of the key cogs in New York making a run this year, he's going to become even more of a commodity. But Brian Cashman could get ahead of it all by paying the former MVP to avoid further offseason headache (of which there will be plenty).

Bellinger is already earning $27.5 million on his current contract (his player option for 2026 is worth $25 million). He'll be entering his age-30 season next year, and we're not exactly sure if he warrants a raise much higher than his current AAV. He's probably right where he should be given he's no longer a pernnial MVP-type talent with probably a handful of true prime years remaining.

But would anybody take issue with a five-year, $140 million extension? That's a $28 million AAV that keeps him in tow before the group of Aaron Judge, Giancarlo Stanton, Gerrit Cole, Carlos Rodón and Max Fried starts to get broken up. And that salary would change almost nothing with their payroll given this is the status quo at the moment.

The Yankees have enough young players in Anthony Volpe, Ben Rice, Jasson Dominguez and Austin Wells in addition to young pitchers like Will Warren and Cam Schlittler (among others in the pipeline) to weather the spending storm. They won't necessarily need to go out and look for top free agents over the next couple years (and wouldn't want to, anyway, with how relatively weak the classes are). They can continue stockpiling depth and making under-the-radar trades to support the current group through this contending window.

Either way, it's time to start seriously thinking about this because Bellinger has fit like a glove since the day he touched down in the Bronx.