As the 2025 MLB regular season nears its climax, teams are already preparing for the offseason, focusing on free agency, trades, and retaining key players. One of the pivotal decisions looming involves the Cody Bellinger 2025 MLB player option, a contract feature that could spark significant interest in the market if Bellinger chooses to opt out. With front offices strategizing for the playoff push and beyond, Bellinger’s choice is among the most closely watched.
Examining Cody Bellinger’s Current Contract and Future Options
Cody Bellinger currently holds a $25 million player option for the 2026 season, accompanied by a $5 million buyout, a structure unaffected by the Cubs who will contribute $2.5 million toward either sum. Bellinger’s contract allows him flexibility similar to an opt out, where he can decide whether to stay or explore free agency. He declined a similar opt out last offseason, opting to earn $27.5 million in 2025 before the Cubs traded him to the New York Yankees.
Reflecting on his future plans, Bellinger stated,
“The true answer is it’s just so far ahead,”
and continued,
“I’m thinking about today, obviously tomorrow, the All-Star break, and that’s really it. It’s very cliche, but I really focus on the day-to-day, and I control what I can control that day. That’s all I think about.”
—Cody Bellinger, outfielder
The 30-year-old outfielder became a key component in the Yankees’ strategy after their pursuit of Juan Soto concluded with his signing by the Mets. Bellinger has delivered well-rounded contributions, offering strong offense, dependable defense across all three outfield spots and first base, as well as smart baserunning. His versatility and steady performance have made a tangible impact for New York.
Bellinger entered the current contract after a strong 2023 campaign with Chicago but missed out on a long-term free-agent deal. Concerns surrounding his hard-hit ball metrics and his struggles during the 2021 and 2022 seasons with the Dodgers hampered his market value. Despite those earlier setbacks, his consistency over the past three seasons positions him favorably to capitalize on the upcoming free-agency period.
Industry insiders anticipate that Bellinger will opt out of his player option. While the Yankees may aim to retain him, any extension bypassing the opt-out would be surprising given his status as a Scott Boras client, whose typical approach involves testing free agency to maximize client earnings. Should Bellinger opt out, the Yankees would likely face a bidding war to keep him.
Strategy and Outlook for Other Key Player Options in 2025
Alongside Bellinger, several other notable MLB players face critical player option or opt-out decisions this offseason. These moves will shape team compositions and market dynamics.
Shane Bieber’s Comeback and Free Agency Decision
Right-hander Shane Bieber, recently traded to the Toronto Blue Jays, holds a $16 million player option for 2026 with a $4 million buyout. Bieber missed the 2025 season recovering from Tommy John surgery but is nearing full health, performing strongly in minor-league rehab starts with a 2.45 ERA and 33 strikeouts across 22 innings.
Blue Jays GM Ross Atkins expressed enthusiasm, saying,
“It’s just so exciting to think about him in this organization moving forward,”
and,
“We’re open (to keeping Bieber beyond 2025). We are obviously extremely interested or we wouldn’t have given up such a significant piece. For now, we’re just focused on the impact this year.”
—Ross Atkins, Blue Jays general manager
Given Bieber’s positive rehab trajectory and value as a starter at age 30, expectations are that he will opt out and seek a more lucrative, longer-term contract during free agency this winter.
Alex Bregman’s Position with the Red Sox
Third baseman Alex Bregman, now with the Boston Red Sox, possesses two opt-out opportunities: one following the current two-year, $80 million contract and another after the 2026 season. Having missed seven weeks due to a quad strain, Bregman’s performance has otherwise resembled an MVP-caliber level.
Bregman noted,
“Obviously, we’re open to talking (about a contract), but for the next few months, I’m just really focused on the baseball,”
further stating,
“I’m just focused on trying to do what I can to help this team win and get into the playoffs. I feel like that’s where my head and mind need to be.”
—Alex Bregman, third baseman
As a Scott Boras client, Bregman is expected to explore free agency but appears likely to re-sign with Boston, where the fit has been excellent. The Red Sox’s blend of affordability and a promising young roster should facilitate a new long-term agreement for Bregman.
Edwin Díaz’s Reliever Contract at the Mets
Relief pitcher Edwin Díaz can opt out of the final two years of his five-year, $102 million contract, a deal he signed following his historic 2022 season. Though Díaz has not duplicated those numbers, his performance remains strong, particularly this season after recovering from a knee injury sustained during the 2023 World Baseball Classic.
Discussing his future with his agent, Díaz said,
“That’s something I gotta look at after the season with my agent. See where we’re at and make a decision,”
and added,
“Right now, I’m not thinking about that. I want to help this team win. I love this team. I want to stay here because I love the team, I love the coaches, I love the ownership, I love everyone. I feel really good right here.”
—Edwin Díaz, relief pitcher
The Mets, backed by owner Steve Cohen’s resources, have the financial capacity to extend Díaz. Expectations suggest Díaz will leverage his opt out into an extension without entering free agency, securing a deal that could include club options into 2029.
Shota Imanaga’s Complex Contract with the Cubs
Shota Imanaga’s contract features multiple interdependent club and player options between 2026 and 2028, making his future terms complex. The Cubs hold a three-year, $57 million club option for 2026-28, with player options for Imanaga layered in if the club declines its choices.
Jed Hoyer, the Cubs President of Baseball Operations, emphasized the team’s approach when Imanaga signed, saying,
“Our hope has always been that we want to be a destination for Japanese players,”
and,
“We want the City of Chicago and Wrigley Field and the Cubs to be a destination.”
—Jed Hoyer, Cubs POBO
Given Imanaga’s strong performance, even though his pitching velocity remains modest, the Cubs are expected to exercise their three-year club option, thus removing Imanaga’s need to decide on a player option for 2026.
Additional Players with Upcoming Options and Their Prospects
Several other significant MLB players face player option or opt-out decisions this offseason, each with implications for their careers and respective clubs.
- Pete Alonso, New York Mets: Alonso can opt out of his $24 million salary for 2026. Assuming good health and performance, he is expected to do so, entering free agency to seek a long-term deal after earning $30 million in 2025.
- Jack Flaherty, Detroit Tigers: Flaherty triggered a $10 million escalator in his 2026 player option, now valued at $20 million. At 30 years old, his performance has fluctuated, but he likely will opt out to pursue a multi-year free-agent contract.
- Ha-Seong Kim, Tampa Bay Rays: Coming off shoulder surgery in October and a delayed season start, Kim can opt out of a $16 million salary next year after earning $13 million in 2025. His decision heavily depends on his performance in the remaining season weeks.
- Trevor Story, Boston Red Sox: Story, enjoying his healthiest season in Boston at age 33, can opt out of two remaining years and $55 million. Given his average offensive output and recent injury history, it is unlikely he will forgo this guaranteed money.
- Robert Suarez, San Diego Padres: Suarez has the option to opt out of two years and $16 million. At 34 and healthy, he likely will explore free agency to seek a better contract. The Padres’ signing of Mason Miller provides financial flexibility to allow Suarez to leave.
The Broader Impact of Player Options on MLB Offseason Dynamics
Player options and opt outs continue to influence MLB roster construction and player movement strategy. These contractual tools grant players significant control over their futures, often prompting bidding wars for high-performing athletes like Cody Bellinger. For teams, preparing for such potential departures requires balancing financial commitments with competitive needs.
Bellinger’s decision, in particular, could shape the free-agent market in a big way, testing the Yankees’ willingness to engage in aggressive negotiations and the appetite of other teams eager to acquire a proven all-around contributor. As several Boras clients approach free agency, many already proven productive, the offseason could be a high-stakes landscape of competition for elite talent.
Ultimately, the choices players make regarding their 2025 MLB player options will ripple across league operations, affecting payroll strategies and playoff prospects for multiple franchises. Fans and analysts will watch closely as these players weigh their options in the weeks ahead.