As expected, the Cubs have begun to free up some of their outfield logjam following their stunning acquisition of right fielder Kyle Tucker.
Per multiple reports, Cody Bellinger is headed to the New York Yankees.
BREAKING: OF/1B Cody Bellinger has been traded from the Chicago Cubs to the New York Yankees, sources tell ESPN. Bellinger, 29, is a former MVP and has two years remaining on his contract with an opt-out after 2025. Yankees continue to be aggressive post-Juan Soto.
— Jeff Passan (@JeffPassan) December 17, 2024
In return, the Cubs are acquiring reliever Cody Poteet. They're also covering $5 million of the remaining $52.5 million on Bellinger's deal.
Cody Poteet to Cubs, who are sending $5M and Bellinger to the Yankees
— Joel Sherman (@Joelsherman1) December 17, 2024
Bellinger does have a player option after the 2025 season, which comes with a $5 million buyout. In that sense, he has $32.5 million guaranteed remaining on his deal, though it seems likely at this juncture that he'll choose to remain in New York for the duration of his contract.
Poteet is a 30-year-old reliever with 83.0 innings pitched in the big leagues. His career ERA stands at a pedestrian 3.80, though he was excellent in 24 1/3 innings last season, posting a 2.22 ERA and 1.068 WHIP.
Cubs' cheapness is costing them dearly
Bellinger has had a rough go of things since his MVP campaign in 2019 when he led the National League in bWAR (8.6) and total bases (351). He dealt with multiple injuries at the conclusion of his Dodgers tenure, though he did fully recover in time to win Comeback Player of the Year in 2023 with the Cubs (4.4 bWAR; .881 OPS).
He re-signed with the team on a uniquely constructed three-year, $80 million contract that featured player options after each season, and he shocked the team by declining his opt-out after the 2024 season ended. He was a lesser player in his second year in Chicago, totaling just 2.2 bWAR and declining in nearly every notable metric.
The chances of a Bellinger trade skyrocketed once Tucker was brought in. Bellinger's contract proved onerous for a team that refuses to operate like the big-market behemoth it is, and that fails to mention Chicago's need to craft a Tucker extension before it's too late.
Though they only had to eat $5 million to send Bellinger away, their return is nothing special. Poteet has been a starter throughout most of his career, though injuries have pushed him to the bullpen.
He's a good arm to have — he can serve in a valuable swingman/long-man role — and isn't even arbitration eligible until 2026, but in exchange for Bellinger, who finished tenth in MVP voting just one year ago, Poteet is a shallow return. Had they been willing to cover more of the contract, odds are the Cubs could have gotten a much larger package.
The Yankees, on the other hand, will accept the cost of Bellinger's contract without much complaining. They desperately need more offense after losing Juan Soto earlier this offseason, and Bellinger's positional versatility (plus-defender at center field, right field, and first base) will bring a lot of flexibility to a team that sorely needs it.
Bellinger should find more succes taking aim at the short right field porch in Yankee Stadium than he did at Wrigley Field, which has been difficult on lefty hitters recently. As a sidekick to Aaron Judge, Bellinger is a good first step in the team's ongoing Soto replacement plan.