When the Chicago Cubs re-signed Cody Bellinger to a three-year, $80 million contract after the 2023 season, they had to be pleased with their investment.
Bellinger put together an outstanding 2023 season, batting .307 with 26 home runs, 97 RBIs and 20 stolen bases while proving versatile on defense. He collected National League Most Valuable Player votes after the season for the first time since he won the award outright in 2019.
But the first year of Bellinger's new contract was a somewhat disappointing follow-up. He slashed .266/.325/.426 with 18 home runs and 78 RBIs in the same number of games (130). After the season, Bellinger exercised the $27.5 million player option in his contract for 2025.
Now, the Cubs are faced with a similar prospect. If Bellinger has another poor season, he can simply exercise a $25 million option in his contract for 2026. While he's hardly been unproductive the last two years, it would not be a surprise if the Cubs at least explored the trade market for Bellinger to see what they can receive in return.
Rival executives, speaking to Ken Rosenthal of The Athletic, say the Cubs want to trade Bellinger but "they also note the difficulty the team likely will face pulling off such a move."
The problem rival teams would have with Bellinger's contract is the same one the Cubs currently face: there's a great deal of uncertainty around whether he will exercise his $25 million option for 2026 after next season.
Bellinger's salary is not unaffordable for MLB's big-spending teams. He would actually represent an affordable option for clubs who fall short in their pursuit of free agent outfielder Juan Soto and still want a left-handed bat. Rosenthal notes the Yankees have shown interest in Bellinger in the past.
"Bellinger presumably could be one of their options if they lose Soto and replace him with multiple players," Rosenthal wrote of the Yankees. "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."
The $32.5 million includes Bellinger's salary for next season and a $5 million buyout he's owed if he does not exercise the 2026 option.
Bellinger has 196 home runs, 597 RBIs, and 91 stolen bases in eight MLB seasons (2017-24) with the Cubs and Los Angeles Dodgers. In addition to his MVP award, he was the 2017 NL Rookie of the Year.
