New York Yankees outfielder Cody Bellinger plans to opt out of his contract and become a free agent next month, a source told ESPN. Bellinger has a $25 million player option for next season but is expected to seek a lucrative multi-year deal after a strong rebound campaign.

The 30-year-old batted .272 with 29 home runs and an .813 OPS in 152 games during his first season with the Yankees. New York acquired Bellinger from the Chicago Cubs last December in a salary dump shortly after Chicago traded for Kyle Tucker.

Bellinger became the Yankees' second-most valuable player behind Aaron Judge after the team pivoted from losing Juan Soto in free agency. The 2019 NL MVP posted a 4.9 fWAR, which tied for 18th in the majors and was second on the Yankees.

Hitting behind Judge for most of the season, Bellinger excelled against left-handed pitching despite batting left-handed. He led all left-handed hitters in on-base percentage (.415) and slugging (.601) against lefties.

Bellinger was one of baseball's top defenders in 2025, accumulating seven Outs Above Average and eight Defensive Runs Saved. He played across three outfield positions and first base while adding 13 steals in 15 attempts.

Bellinger originally signed a three-year, $80 million contract with the Cubs before the 2024 season that included opt-outs after the first and second years. He had declined Chicago's qualifying offer earlier in that offseason.

Other Yankees expected to reach free agency include outfielder Trent Grisham, first baseman Paul Goldschmidt, and relievers Devin Williams and Luke Weaver. Bellinger is expected to receive widespread interest on the open market given his production and versatility.