The Chicago Cubs faced a significant offseason decision that was out of their control. Cody Bellinger, who signed a three-year, $80 million contract last winter, had to decide about his player option worth $27.5 million. This decision would have a profound impact on how the offseason unfolded for the team. In the end, he exercised the option, choosing to stay with the Cubs instead of hitting the market again. This move led to the Cubs' ownership tightening their spending, leaving agents frustrated by their lack of initiative.

Speculation and Changing Needs

There was a lot of speculation that the franchise hoped Bellinger would decline the deal and enter free agency again. As the 2024 campaign progressed, it became clear that the team didn't need him as much as initially thought. Pete Crow-Armstrong emerged as a reliable everyday option in center field, and Michael Busch had a strong season at first base. These two positions were where Bellinger played the most, complicating his standing with the organization. If he had declined the option, it would have cleared a significant amount of money off the salary cap, allowing the Cubs to address other needs. That money still remains available, and the Cubs could look to make a trade centered around the former MVP.MLB insider Bob Nightengale of USA Today shared that the team wanted to move Bellinger, stating that it was the "worst-kept secret" at the GM meetings. "The worst-kept secret at the GM meetings was the Cubs offering Bellinger to anyone and everyone. So far, no team has expressed strong interest," he wrote.

2024 Performance and Contract Impact

While Bellinger was solid in 2024, he didn't come close to replicating the numbers he had in 2023, which led to him getting the multi-year deal. His contract is now a major deterrent in trade talks. As one GM said via Nightengale, "Come on, who's going to touch that contract? The risk is just too great for the production." This is a valid concern for other teams. In most situations, they would prefer to spend money in free agency to sign a player, as it only costs cash. But to land Bellinger, teams would have to part with an asset or two, depending on how much of the salary Chicago eats.In 2025, Bellinger is going to make $1.5 million more than Philadelphia Phillies star Bryce Harper. He will earn at least $32.5 million through 2025 due to a $5 million buyout if he opts out of his 2026 deal. If he opts in, he will earn $25 million in 2026, making his total commitment for the next two years $52.5 million. Such a commitment is not one that many teams are willing to make, and trade talks could drag on.

Potential Trade Destination: New York Yankees

One team to keep an eye on is the New York Yankees. They have reportedly set their sights on Bellinger as a contingency plan in case Juan Soto leaves them in free agency this offseason. The Yankees see Bellinger as a valuable addition to their lineup and are willing to explore a trade. However, they will also have to consider the financial and asset implications of acquiring him.The Cubs' situation with Cody Bellinger is a complex one that will likely have a significant impact on their offseason plans and future roster decisions. As the situation unfolds, it will be interesting to see how the team navigates through this contract conundrum.