Cody Bellinger marks the Yankees’ first step in rebuilding their offense after Juan Soto

It was only a matter of time.

From the moment Cody Bellinger opted to pick up his $27.5 million player option for the 2025 season instead of becoming a free agent, it became increasingly clear — somewhat ironically — that his clock in Chicago was ticking.

Bellinger’s choice to exercise the option wasn’t particularly surprising given his modest performance in 2024. He had failed to replicate the stellar production he delivered in his first year as a Cub in 2023, so it was unclear whether he could command similarly guaranteed dollars on the open market if he opted out.

But while Bellinger’s decision made sense for the individual, it immediately complicated Chicago’s offseason plans to improve the roster. With a new young slugger at first base in Michael Busch and a rising defensive wizard in center field in Pete Crow-Armstrong, the Cubs had seemingly found their foundational pieces at Bellinger’s two primary positions. And while Bellinger could theoretically play right field, as he did for most of the second half of 2024, Seiya Suzuki — Chicago’s best hitter last season — expressed a preference to play more right field instead of being limited to DH duties . This dynamic seemed to put Bellinger in a precarious position heading into 2025.

Far more relevant than Suzuki’s desire to play the outfield was Chicago’s desire to free its budget for Bellinger’s big salary and meaningfully improve the roster in other ways. That intention became crystal clear last week when the Cubs acquired star shortstop Kyle Tucker from the Astros, bumping Suzuki back to DH and leaving Bellinger without any logical roster spot.

Enter the New York Yankees. It’s not just that a Cubs trade for Bellinger seemed likely to occur at some point this winter; it’s also that the Yankees always seemed like the most logical destination. Sure enough, Bellinger is now a Yankee, with New York acquiring him from Chicago in exchange for 30-year-old right-handed pitcher Cody Poteet. As part of the deal, Chicago also sent $5 million to New York to help cover the remainder of Bellinger’s contract. However, the bulk of the money owed to Bellinger — which could include an extra year if he picks up his $25 million 2026 option next winter — will be the responsibility of the Yankees, which was clearly Chicago’s goal with this deal.

New York expressed interest in Bellinger early last season, when he was a much hotter commodity on the free agent market, but the Yankees instead addressed their outfield needs by acquiring Juan Soto and Alex Verdugo via December trades. That took an obvious suitor out of the mix for Bellinger and ultimately paved the way for him to return to the Cubs on a three-year, $80 million deal that didn’t come together until late February.

Fast forward a year, and Bellinger re-emerged as a logical target for New York, this time via trade — especially when Soto made his monumental decision to leave the Yankees’ outfield in favor of a historic contract with the Mets. Until Tuesday, the Yankees had responded to Soto’s departure by adding impact on the mound rather than trying to replace Soto’s contributions in the lineup. That first came in the form of left-hander Max Fried, who signed an eight-year, $218M contract — the largest ever for a southpaw — to join the Yankees’ rotation. Brian Cashman and Co. followed with the acquisition of closer Devin Williams from Milwaukee to bolster the bullpen in a big way.

At some point, however, New York had to start rebuilding its offense. It wasn’t just Soto’s massive presence that the Yankees had to replace, either: Left fielder Alex Verdugo, second baseman Gleyber Torres and first baseman Anthony Rizzo were all 2024 regulars who hit free agency, with none apparently set to return. There was no shortage of spots on the New York roster to address, but Bellinger’s addition is a solid first step.

Bellinger’s extensive experience at both first base and center field — a position New York was sure to move Aaron Judge away once Soto left — made him a sensible target to improve New York’s defensive options. Early reports suggest Bellinger is expected to be the Yankees’ primary center fielder, with first base a position New York still intends to address externally. There are far more free-agent candidates for the Yankees to target at first than there would be in center, so if moving Judge back to right is indeed a priority, it’s not surprising that Bellinger would be considered a midfielder as things stand.

While his early-career superstardom and playing for two of baseball’s highest-profile franchises have understandably made him one of the more recognizable players in the league, it’s crucial to note that Bellinger doesn’t offer nearly the likelihood of elite production that Fried or Williams does. Bellinger’s recent reinvention of himself as a hitter traded the awesome power of his early days in LA for a more contact-friendly approach in Chicago. This transformation produced wonderful results in 2023, but a more pedestrian line this past season; his 109 wRC+ ranked 28th out of 49 qualified outfielderswhile his .161 ISO ranked 34th. His power production should benefit from Yankee Stadium’s short porch in right field, but his less-than-stellar quality of contact doesn’t suggest a sudden resurgence to 30-plus homers.

Bellinger is a good player who seems to have established a high offensive floor with his new approach, but it would be a huge stretch to project him as anything close to a Soto replacement on his own. On the other hand, there is still plenty of work for the Yankees to do to get their lineup back to that of a legitimate contender. First base appears to be the priority in those efforts, but there’s still a long offseason ahead, and it’s clear that Bellinger’s versatility gives Cashman more avenues forward with his next-round additions.

As with their deal with Williams, the Yankees managed to avoid parting with any of the top prospects or crucial pieces for the 2025 roster to acquire Bellinger. Opting instead to take on the bulk of Bellinger’s contract is a demonstration of New York’s spending skills, and credit to them for operating as such.

On the flip side, there’s no hiding what the kids were trying to do here. Poteet was solid in Triple-A and across a few big leagues for New York in 2024, and he should help fill some of the pitching depth lost when Chicago traded Hayden Wesneski to Houston in the Tucker- the agreement. But this trade was about offloading Bellinger’s salary, and that left only one question to answer for a big-market franchise that hasn’t won a playoff game since 2017: OK, now what?

Teams in Chicago’s position should only make trades like this if it allows them to make additional moves to improve the guard. Tucker was certainly a titanic acquisition. He is clearly an upgrade over Bellinger, who no longer fits the roster. But after several seasons of mediocrity, the Cubs must continue to push forward. If clearing the $20 million-plus owed Bellinger this season opens the door to additional spending in free agency or acquiring high-paid impact players via trade, that’s good news on the North Side. Until those moves take place, however, it will be hard to classify this trade as anything other than what it is: a salary dump.

That said, a similar sentiment can be applied to both teams involved in this swap: This was a move that needs to be a small piece in a larger puzzle of transactions, rather than a key move that their offseasons are built around.