As Philadelphia Phillies fans recover from the shock of how last week ended, some still hold out hope that the front office will decide to make a big move before the end of the offseason. The New York Mets swooped in an stole Bo Bichette out from under the Phillies' nose on Friday. Now it sounds like the Phillies have an opportunity to pivot and return the favor with free agent outfielder Cody Bellinger.
The latest reports out of New York sure make it sound like the Yankees are pushing the door wide open for any other team who wants to outbid them for the 30-year-old’s services. That still could include the Phillies (subscription required), per The Athletic's Brendan Kuty. It also includes the New York Mets, who continue to be connected even after doling out $126 million to Bichette.
According to the Newark Star-Ledger's Bob Klapisch, the Yankees have reportedly decided that they won't get into a bidding war for Bellinger after leaving a five-year, $160 million offer on the table. Apparently the Yankees' internal conversations have resulted in them being prepared to let him walk if he doesn't take their offer.
Bellinger spent the 2025 season with the Bronx Bombers. However, it doesn’t sound like he and his agent Scott Boras have any attachment to the Yankees as they are not willing to settle.
#Yankees have made an internal decision not to engage in a bidding war for Cody Bellinger if #Mets or anyone else swoops in with a blow-away offer. Yankees believe they've made a fair proposal - five years, $160 million, two opt-outs. They're prepared to let Bellinger walk.
— Bob Klapisch (@BobKlap) January 18, 2026
Phillies have a chance for revenge on the Mets by swooping in on Cody Bellinger
While it feels unlikely, the Phillies technically could use the money earmarked for Bichette's seven-year, $200 million deal to make a splash on Bellinger. His camp is reportedly looking for a seven-year deal in the $250-$260 million range, or
$36-$37 million per year (subscription required), according to Klapisch.
Is Bellinger worth that much? Probably not, but that's the market right now after Kyle Tucker's $60 million AAV and Bichette's $42 million AAV.
Bellinger had a strong 2025 campaign, hitting .272 with an .813 OPS, 29 home runs, 98 RBIs, and 4.9 fWAR. However, since winning the 2019 NL MVP with 7.8 fWAR he averaged 1.7 fWAR from 2020 through 2024. Before last year, his 4.4 fWAR 2023 season with the Chicago Cubs was the lone instance in which it looked like he might have rediscovered something.
With an outfield lineup featuring Brandon Marsh, prospect Justin Crawford, and veteran Adolis García, the Phillies outfield is projected to finish in the bottom five of the league. The position group seems like the most probable spot of frustration this season, much like it has been over the previous few years.
The question is whether Phillies president of baseball operations Dave Dombrowski would even entertain the thought of making a bid, let alone getting permission from manageing partner John Middleton. They'd have to watch their payroll balloon into the $350 million range.
The Phillies' payroll now sits at an estimated $317 million per FanGraphs after bringing back J.T. Realmuto.
However, the Phillies have their eyes on a 2026 payroll somewhere close to the fourth luxury tax threshold of $304 million. The Phillies were willing to pay Bichette $28.5 million per season, but that would have more than likely resulted in moving on from Realmuto's $15 million AAV and trading Alec Bohm's $10 million salary.
As such, they're unlikely to be inclined to add another high-salary player and pay even more luxury tax than they already will be in 2026. But you can’t deny that stealing Bellinger out of New York is a move that would help improve the Phillies' biggest weakness.
Sticking it to the Mets would just be a sweet, sweet bonus.