Yankees’ Likely Delaying Blockbuster Trade for One Critical Reason

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All offseason long, New York Yankees fans have been waiting to see some type of action from their team. They haven’t gotten it.

Outside of re-signing Ryan Yarbrough, Paul Blackburn and Amed Rosario, it has been radio silence in the Bronx while the Toronto Blue Jays, Boston Red Sox and Baltimore Orioles have all made moves around them in the AL East.

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What’s the hold up? Are the Yankees really just cheaping out? Or is there a greater purpose here?

One rumor we keep hearing is that New York is in the trade market for a pitcher, and names such as Freddy Peralta, Sandy Alcantara, Edward Cabrera and MacKenzie Gore — among others — have surfaced as possibilities.

So what exactly is taking so long for the Yanks to actually pull the trigger?

It could be because the Yankees still do not know what is going on with Cody Bellinger, who remains on the free-agent market after posting an .813 OPS while playing terrific corner outfield defense with New York in 2025.

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The Yankees have made it abundantly clear that retaining Bellinger is their top offseason priority, even if we are now days into January with no progress on that front.

But what does Bellinger have to do with New York making a trade for a pitcher?

Well, if Bellinger departs, the Yankees would then have to roll with Jasson Dominguez in left field. Or possibly Spencer Jones depending on what happens in spring training.

Jasson Dominguez and Cody Bellinger. Credit: Jayne Kamin-Oncea-Imagn Images.

Jasson Dominguez and Cody Bellinger. Credit: Jayne Kamin-Oncea-Imagn Images.

The problem is that teams are surely asking for Dominguez or Jones in trade discussions, and New York may not want to move either player until it knows the Bellinger outcome.

Imagine if the Yanks trade Dominguez and Bellinger proceeds to walk. Then what? Who is your left fielder? Are you just signing someone off the scrap heap? Do you trust Jones on a full-time basis?

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There are dominoes here, and moving on from either Dominguez or Jones without knowing whether or not Bellinger will be back in 2026 would be dangerous.

The Yankees have been connected to lefty-mashing outfielder Austin Hays in free agency, but only as a platoon partner for Dominguez; not as a starter.

This is also why New York needs an answer from Bellinger as soon as possible.

Clubs like the Milwaukee Brewers, Miami Marlins and Washington Nationals — all of whom have arms the Yanks may covet — have serious leverage in trade talks, especially with the free-agent market being so thin on top-tier starting pitchers.

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The Yankees aren’t signing Framber Valdez, Ranger Suarez or Zac Gallen. Those teams know that. So why would they compromise with their asking price?

The Brewers made it to the NLCS last year. The Marlins and Nationals both have extra years of control on their hurlers. None of those squads have to make a trade. It’s on their terms.

That puts the Bronx Bombers in a difficult position, and for as much as Juan Soto briefly held them hostage last winter, Bellinger is doing that times 10 right now.