Cody Bellinger has exercised his $27.5MM player option for the 2025 season, according to ESPN’s Kiley McDaniel and Jeff Passan (X link). Bellinger’s three-year, $80MM deal with the Cubs last winter included opt-outs after both the 2024 and 2025 seasons, but Bellinger will pass on the first opt-out (and $2.5MM buyout) in order to remain in Chicago for at least one more year.
Bellinger also earned $27.5MM in the first year of his contract, so he’ll have a $25MM decision waiting for him with next year’s opt-out. With $5MM attached to that opt-out, Bellinger has now guaranteed himself $60MM of that initial $80MM payday, and could potentially be in line for another long-term contract if he delivers a big 2025 season.
Of course, Bellinger thought that his big 2023 season might’ve set him up for a lucrative long-term contract last winter, yet he ended up rejoining the Cubs for that three-year pact. Similar option-heavy shorter-term deals were also in the cards for other notable Scott Boras clients like Blake Snell, Matt Chapman, and Jordan Montgomery, leading the quartet to be known as the “Boras Four” as their trips through free agency dragged deep into Spring Training.
Bellinger signed near the end of February so he still had the benefit of most of spring camp, though injuries were probably the bigger reason why the former NL MVP’s performance dropped off from 2023. A fractured right rib and a fractured left middle finger resulted in a couple of relatively brief trips to the injured list, though Bellinger hit a modest .266/.325/.426 with 18 home runs over 569 plate appearances.
While his 109 wRC+ was still above the league average, it also wasn’t the kind of standout platform year that would’ve made Bellinger a lock to top the remaining salary on his Cubs contract. As a result, Bellinger was still reportedly unclear about his opt-out decision as late as September 20, and he has now chosen perhaps the slightly more cautious move of just sticking in Wrigleyville for another season.
There’s plenty of logic in Bellinger’s decision, beyond the obvious appeal of a $27.5MM payday. After being a free agent in each of the last two offseasons, a quiet winter with his 2025 destination already established surely had some appeal for Bellinger. He has also been vocal about how much he has enjoyed playing for the Cubs, so he’ll now stay in a familiar and welcome environment of the Friendly Confines.
From the Cubs’ perspective, they now have a pretty big salary on their books for 2025. Of course, a one-year outlay for a player with Bellinger’s upside isn’t exactly a bad outcome, and obviously it was an outcome the front office has planned for given the three-year contract. With Pete Crow-Armstrong now establishing himself in center field, Bellinger will probably be the Cubs’ primary right fielder next season, with Seiya Suzuki perhaps getting the bulk of DH duty. Bellinger’s ability to also play center field and first base adds to his versatility, and gives manager Craig Counsell some flexibility in figuring out his daily lineups.
As per RosterResource, the Cubs’ projected payroll for next year up to roughly $183.5MM, factoring in Bellinger staying and Drew Smyly leaving after Chicago declined their end of the veteran pitcher’s mutual option. This leaves the Cubs with plenty of spending space before they get up to the $241MM luxury tax threshold, provided the threshold is any sort of real barrier for ownership. The Cubs didn’t pay the tax in any of the 2021-23 seasons but may have just barely crossed the threshold this season, depending on the league’s final calculations.
He could have gotten more on the open market but loves Chicago so much he wanted to stay. A true leader. Im sure his agent and the mlbpa are upset but Cody putting the team first is all you need to know about his character
The guy loves to lose
Team had a winning record his 2 years in Chicago. No they didn’t win ‘ship, or even make the playoffs, but not sure how you can make the comment you did.
He stayed because he wants a better year before re entering FA bub..
That’s all well and good, but I hope he likes Anaheim or Washington or wherever they trade him. Because I don’t see him on the roster when they go to Tokyo.
And I read his wife wanted to stay. Belli is a clutch hitter and the Cubs haven’t had one for a long time. Glad he stayed and if you are looking for change, you’ll need to wait until the no trade contracts expire.
Certainly wasn’t getting anything close to that on the open market, at least not on a yearly rate. If he has a bounceback year, he can walk and get his bag of cash next year. If he has another mid year, his days of big money might well be behind him.
Cubs were probably hoping he would opt out but that’s not happening now. It’s going to be interesting to see how Hoyer spends this offseason, he needs to produce results in 2025.
Still might be dealt. Bellinger to AZ for Jordan Montgomery?
I’d make that deal in a heartbeat and I’d even drive Cody to Phoenix on my own dime.
I agree. At least Hoyer wasn’t stupid enough to give him a NMC too. They should be able to move him if they’re smart about it. Giants sound like the might be a landing spot. Take less of a prospect if they don’t have to retain any of it. More of a prospect if they have to retain some of it. I’d much rather spend that money on a starter or a Closer.
Respectfully disagree uncle.
This is absolutely perfect timing for the Cubs. They now don’t need to spend any money, on anything other than pitching, pitching and more pitching.
And add another catcher, as insurance.
With Caissie and Shaw ready to be assimilated into the lineup (sort of like PCA) – this keeps the pressure off them, to properly be brought in, as they become ready.
And if anything, this puts some pressure on Happ, Belli, and others to perform up to expectations.
I’m thrilled Belli is back.
Apparently you didn’t see Montgomery’s numbers this past season, I live in AZ and let me tell you he absolutely sucked.
Right decision, he wasn’t gonna get more on the market considering how this season went, and the situation last offseason. Cubs should move him to RF, PCA CF & Seiya DH.
Not surprised at all by this. I was hoping he would’ve opted out. I hope he has a great 2025 season and then opts out for 2026. He’ll only be 31 in summer ’26. So opting out after next year he can still get a 5 year deal.
Crap. This contract will hamstring the Cubs spending ability in FA. PCA in CF and Busch at 1B pushes Bellinger to RF and Suzuki to DH. Takes away versatility
That depends. There was a report by somebody( Don’t remember who on this site) That somehow the Cubs would have 70 million to spend even IF Bellinger opted in. I didn’t see how it was possible but I really hope it was accurate. Even with Bellinger being the 9th man with Suzuki and the B/U C being 10, The Cubs do not need 70 million bucks worth of FA’s.
If the numbers in this article are accurate they currently have about 67.5m to spend before hitting the 1st luxary tax. I know Hoyer and Ricketts have said they don’t like to go over it but this year would be as good as any to do it if they really want to field a contending team.
They already did it this year. I highly doubt they want to go over it again. They would rather reset it and they should have no problem doing that. Depending on how much other salary they can trade away. That’s why Hoyer was so dumb for going about 3 million over last year. It was moronic. Especially when you consider the guys he added to go over.
A no brainer by Bellinger.
Cody Bellinger is a good baseball player. I’m fine with it. I have zero faith in Hoyer to use what maybe would have been his opt out money on anything meaningful anyway.
This was my thought process as well. I just didn’t have faith in Hoyer to make that extra money count if Belli did opt out anyway.
Cody spares us from more absolutely wild takes from the MLBTR writers about his free agency estimates.
They could trade him to the giants they would take him since they have a hard time signing free agents
That was the old Giants management. We don’t yet know how new management will operate.
Damn it!! Between this and the Happ contractual albatross, Jed has truly screwed the Cubs for another 3-4 years.
I hope the Cubs next POBO has a hard policy of not giving out NTC clauses or opt-outs. And for those thinking Cody may be traded, that’s not likely, at least before the 25 deadline. The only position player moves left now are Busch, Paredes, and maybe Hoerner. For starting pitchers, only Taillion is movable. Welcome to Hell, Craig, 25 is looking like another 85-88 win season.
Hey, it could always be worse. You could be a White Sox fan.
Sounds to me, he IS A White Sox fan.
Well Jed hasn’t screwed the Cubs for 4 more years. He’s definitely limited what they can do through 2026 for sure. My math was never stellar but that adds up to 2 more years. And it’s not even screwed as long as Happ and Suzuki keep playing well.
an obvious outcome, just like the new Ulcerate album slapping
He’s now officially trade bait.
What an overpayment !
3 options here:
1. Trade, now or at the deadline.
2. Let it play out and let him walk. Delay for a year to let the kids mature.
3. Extend and sell prospects for established vets.
I don’t think that I have a opinion right now on this outside of option 2 feels the worst.
It was expected but still ugh.
Time for a trade
I knew we would be stuck with him. Thanks Hoyer, another spot youth can’t claim.