MLB insider doubts Cody Bellinger $400M deal as Yankees weigh costly Tatsuya Imai pursuit this offseason

Cody Bellinger is back in the middle of New York Yankees talk, but this time it is about money, not home runs. An MLB insider believes the Yankees will not give Cody Bellinger a massive $400 million deal. The comment comes as reports surfaced on Wednesday that New York is looking for another top starting pitcher and is seriously linked to Japanese star Tatsuya Imai.

The situation has created a clear debate around spending. The Yankees want pitching help, but adding another expensive arm could limit what they can do with their outfield plans and future contracts.

Cody Bellinger contract outlook shifts as Yankees eye Tatsuya Imai

Former New York Mets general manager Steve Phillips shared his thoughts this week while discussing the Yankees’ offseason plans.

He said the team may be “blowing up the budget” if it pushes hard to sign Tatsuya Imai, who is drawing strong interest from New York and the Chicago Cubs.

“It does sound like the Yankees may be blowing up the budget a little bit to land one more starting pitcher,” Phillips said. He added that doing so could hurt their chances of keeping Cody Bellinger or adding another top outfielder.

Phillips also questioned the idea of a $400 million contract for Bellinger. “I don’t think he is,” Phillips said, referring to projections that place Bellinger near that number.



He explained that if the Yankees miss out on Bellinger, pivoting to another star like Kyle Tucker would not be easy either, as Tucker is also expected to command a huge deal.

Tatsuya Imai’s rising value is part of the problem. The 26-year-old right-hander has spent eight seasons in Japan’s Nippon Professional Baseball league.

He owns a 58-45 record with a 3.15 ERA and is a three-time All-Star. His 2025 season was his best yet, finishing 10-5 with a 1.92 ERA. That performance has pushed his projected MLB contract past $150 million.

Not everyone believes the Yankees can afford another big pitcher. MLB writer Thomas Harrigan wrote on December 12 that New York’s rotation needs help behind Max Fried. Still, he ruled out pitchers like Tatsuya Imai due to existing payroll commitments.

“Given the money left on their deals with Max Fried, Gerrit Cole and Carlos Rodón, we can likely rule out” big-ticket starters, Harrigan wrote.

The Yankees already have $704 million committed to Cole, Fried and Rodón. In 2026 alone, the trio will earn a combined $90.25 million, ranking just behind Aaron Judge on the payroll. Adding Imai would push those numbers even higher and tighten future flexibility.

With pitching needs, outfield questions, and budget pressure all colliding, the Yankees face tough choices before making their next move.

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