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
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.
Not likely to bounce back. Guys don’t start hitting harder and running faster in 30s than 20s. His hard hit numbers are a huge turn off. He isn’t playing cf for much longer. Any increase in traditional stats will be looked at as luck. But sure if he does well or even maintains he can and will get a multi year deal.
Barry Bonds clears his throat…
Barry also had a little extra help for those years. Don’t think that quite would make him a general comp.
Along with dozens if not hundreds of other player that hit and slugged well from at least 30-35.
Technically he’s not in his 30’s
Wrigley was inexplicably the second-toughest park to hit in in MLB (for home and away) in 2024 (by OPS), with a huge chunk of that concentrated in a nine week period from the end of April to the end of May. He hit pretty well outside of that weird dead spot.
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.
Agreed Dog. I’m thrilled to have Bellinger back and I say buy two TOR starters and deal Taillon.
Dealing Taillon and non-tendering dead weight would allow the Cubs to spend around 70 million dollars. If Snell is around 30 and Fried 25, that still give us 15 million to tweak the roster. Trade for a high leverage reliever, sign Sanchez to back up Amaya (or go bigger with a trade) and you’re looking good.
With Bellinger in right and PCA in center, I’d employ a no doubles defense in the outfield.
I doubt the Cubs sign another LH SP. As frustrated as Taillon gets me at times, I’d now keep him around until other RH SPs emerge in the system.
Think I’d rather have Bethancort, than Sanchez – for his Defense.
I’d rather have Burnes and Fried but I think Snells contract will be smaller making him more enticing to the Cubs. Cubs also were interested in trading for Snell at the deadline. I’d make Wicks available in trade for a reliever.
Do the Cubs want to make the playoffs and do some damage or not?
Taillon is a good 3/4 starter but do I want Taillon facing Yamamoto on short rest or Max Fried?
I throw Fried out there because I think he will almost certainly want an opt out after his first year, he would basically be that bridge guy for Brown or Horton to hopefully step into the fourth rotation slot and the other battling it out for the fifth.
Apparently you didn’t see Montgomery’s numbers this past season, I live in AZ and let me tell you he absolutely sucked.
Rather have Beli. Has a good floor and pitcher injuries and such. Much more star power for marketing.
I’d make that deal in a heartbeat and I’d even drive Jordan to Chicago on my own dime.
No way would Cubs trade Belli for Monty.
Now Belli and cash for Helsley, ok.
Belli can play right with Seiya at DH. Belli can also give Busch a rest. Let’s give Caissie and Shaw at least half a season before calling them up. Belli is a huge asset, a slight overpay, but a huge asset.
Cardinals almost certainly don’t want back a player with only 1 year of team control for trade Helsley. Their plan for 2025 is to do a “reset” – i.e., rebuild.
The Cardinals almost certainly want back prospect(s) if/when they trade Helsley.
True, Alcantara for Helsley seems more plausible
The Cubs want Bellinger.
~Bottom 100 Comment
Belli for Helsley might be the worst trade idea I’ve seen on this site and that is saying something. In what world do the Cardinals even remotely consider something like that? They are in a rebuild year, even if the Cubs picked up 99% of his contract Belli helps them compete a grand total of 0%. Why would they trade their best trade piece for that? What?
My first post was poorly worded which was why I corrected it two slots further down andprior to your post.
I agree that Cardinals would not want one year of Belli. That is why I posted that Alcantara is more plausible. Cards are looking for cheap prospects that have multiple years of control. My first post was simply dismissing the idea of the Cubs trading Belli for Montgomery. Helsley is more the type of pitcher that they would want. Did not mean to imply that the Cards would want that deal though.
Cubs don’t want Jordan Montgomery. They’d be lucky to get Nick Madrigal for him these days.
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.
At least 85-88 wins is better than 83 for the 3rd straight year. Might be enough for a wildcard… yippie
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
A no brainer by Bellinger.
He’s gotta play for the Cubs but yeah probably a good decision.
The only NL Central team to win a championship in the last 10 years.
And that was the Cubs only championship in over 100 years.
And the fix was in?
well the last 10 years are actually relevant, the other 90 are not
so again, Cubbies the only NLC team with a relevant, recent WS victory
sorry the truth hurts you so much
Lol you are just making things up.
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.
I’m hearing an extension is coming soon for Jed. Not sure how many more years. But it’s likely to be announced this month before the GM meetings in December. We will see.
Huuuuuuuuuuuuaaaahhhhhhhhhhhh!!! That’s me hurling my guts inside out. Thanks Fred. Just had lunch.
Jed and Carter should have been fired about 17 seconds after the regular season ended, and somewhere around a day or two after Tom put the Cubs up for sale.
Sorry, but I’ll report where and what my sources take me.
Never was a fan of Hoyer myself. The reality is that it makes sense. If Hoyer, who has one year left on his original contract were to be fired, that would have already happened . So, it’s perfectly logical Mr. Ricketts extends Hoyer before GM meetings, Winter meetings and just the overall deal and decision making.
Happ is overpaid he’s not an albatross.
Contracts are bad but certainly not albatross. Should be fired for giving them but they didn’t hurt the team enough to worry about.
It’s the easiest thing to do but Jed didn’t mess it up. He sold veterans for some great prospect returns. Half the teams don’t have a gm capable of that.
an obvious outcome, just like the new Ulcerate album slapping
He’s now officially trade bait.
What an overpayment !
It was that the day it was signed.
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.
3 is the worst. You already have him for 2 seasons. No reason to pay him again for even older lesser seasons. I would celebrate him opting out next year if I was Cubs.
It was expected but still ugh.
Time for a trade
To the Cards for Contreras? They do need a C, and Willson’s production has been very consistent.
A better long term trade would be O’Hoppe with the potential of big upside results.
I knew we would be stuck with him. Thanks Hoyer, another spot youth can’t claim.
Cubs have a nice team and system but not so nice Beli is blocking other players. Guy can play 3 outfield 1b dh they will find a spot for him.
It is not a bad situation. They have solid injury depth unlike last year. Add to it if they tank Jed can sell off short term and open up roster spots while reloading the system.
Caissie is still 22. Alàcantara same. Ballestroes 20. Shaw 22. Caissie will have to be on the 40. Shaw and Ballestroes still have time.
I see Jed targeting a SP and adding a vet bat to the bench. And a vet pen arm. Back up catcher or platoon partner for Amaya. SP he might go bounce back with Brown and Horton looking like long term starters going forward. Taillon falls off and having another established makes sense.
Lest we forget that Kyle Hendricks’ salary is off the books now. Not a huge figure, but that money can be allocated to better production somewhere on the roster in 2025.
This is prob the right decision for him, but I bet he could have gotten a better deal or at least a similar deal. Boras really messed him up and I think he wasn’t willing to test the market. But I do think he could have gotten a 4 year deal for like 100 if he wanted it, maybe even a club option at the end… idk. Give or take a few mill.
Boras made him $60MM over the first two years with the opportunity for more to come.
The Cubs are unlikely to have found a better hitter with this weak free agent class and many of the top trade candidates coming from St. Louis and Milwaukee. They have plenty of money to spend, but won’t do what’s necessary to make the team better. They should be coming after Soto and abandon the Hoyer strategy. Then, trade away some prospects for a top pitcher.
If it keeps Suzuki from playing defense that’s a great thing
Cubs fans getting a taste of what us Dodger fans got. Good / great year to poor/ average year the following season. Maddening when you know the MVP potential is there. I root for him but I’m glad the Dodgers cut bait
@dodgers
If you’re glad the Dodgers cut bait – – – does that mean you were glad the Dodgers employed the ‘valuable’ Jason Heyward, in Belli’s place for a year and a half? Or Chris Taylor or Kiki? Or then having to trade with the Cardinals for a CF.
I have to admit it worked out, despite all of that.