It feels like signing Cody Bellinger would do more for the Yankees than boost the lineup on the field. With fans growing restless over a quiet offseason, Bellinger has started to look like the front office’s best way to shift the narrative, and Brian Cashman knows it.

Notably, ever since Hal Steinbrenner spoke about keeping payroll under $300 million and the Yankees moved on from several big-name players, many fans have wondered whether ownership is still fully committed to winning a championship. The Bleacher Creatures haven’t exactly been shy about voicing that frustration.

But from Cashman’s perspective, the Steinbrenner family still believes in going all-in when it matters. And landing a player like Bellinger would be the clearest way to show it!

“Thanks to Hal Steinbrenner, especially in the Steinbrenner family. They allowed us to stay in it in a very significant way. And the communication level with Scott Boras was obviously always high caliber. And so it doesn’t really matter how long it takes; the only thing that matters is if you can land where you want to land. We were able to retain a very important player that we think can serve us well as we move forward, and he was an important player last year to the level of success we had.” Cashman shared how Steinbrenner enabled them to stay in the race for Bellinger.

Well, landing Bellinger for $162.5 million might end up being the best and only major win of the Yankees’ offseason. And why not? The 30-year-old lefty slugger put together a terrific 2025 season in the Bronx. He finished 14th in AL MVP voting after hitting .272 and 98 RBIs over 152 games. His mix of power, defense, and left-handed balance is still a huge part of why the Yankees believe they can stay in the postseason picture.

That said, once you look past Bellinger, the rest of the offseason feels pretty underwhelming. New York hasn’t done much to improve last year’s roster. And there’s growing concern about whether this team has kept pace in an American League where just about every contender has meaningfully upgraded its 40-man roster.

Now, Cashman has been quick to credit Steinbrenner for going all out to get Bellinger. But he’s also been careful to distance himself from the overall results of the offseason. That’s led to some speculation that ownership may not have pushed the front office hard enough to aggressively chase other big names. We don’t really know what happened behind closed doors. But Cashman singling out Steinbrenner’s commitment to the Bellinger deal has only made fans wonder what went wrong with everyone else.

And while the Yankees clearly went all-in on Bellinger, there’s also the flip side! This massive contract could eventually feel less like a savior and more like the team’s biggest financial burden.

Bellinger’s contract could haunt the Yankees back

There’s no arguing that the Yankees got better by bringing in Bellinger, but the contract side of the deal is a lot tougher to swallow. Why? Because their projected payroll for 2026 is already expected to climb past $317 million, putting them right back in repeat-offender territory with the luxury tax. A big reason for that is Bellinger’s five-year, $162.5 million extension!

Notably, he’s set to make about $32.5 million in both 2026 and 2027, with opt-outs after the 2027 and 2028 seasons, plus a hefty $20 million signing bonus. So, when you factor everything in, his luxury tax hit jumps to roughly $44.75 million for the year.

Hence, for fans hoping the Yankees would keep making splashy, Bellinger-type moves this offseason, it might be time to temper expectations. All that spending also means steeper luxury tax penalties, which could make it harder for the Yankees to add pitching help or quality depth as the season goes on.