Dodgers' window to bring Cody Bellinger back might be closing as rival makes offer

The Dodgers' Edwin Díaz signing was a stark reminder that, while LA doesn't have a lot they need to get done this offseason, when they see an opportunity they'll pounce and they'll most likely win. Díaz was initially looking for a five-year deal, but he settled for three with the Dodgers when the Mets were hesitant to match LA's AAV.

They're employing the same "wait and see" strategy with Kyle Tucker and Cody Bellinger, who have lingered on the free agent market into the new year. They don't want to give out another long-term contract when they're already loaded with those, so they're hoping that their markets disintegrate to the point where the star players would take a three- or four-year deal, or something even shorter with opt outs.

They might soon be out of luck when it comes to Bellinger, though. Jon Heyman reported that the Yankees, who have been gunning to re-sign him and are widely thought of as the favorites, have given him a formal offer, and Buster Olney speculated that it was somewhere in the realm of five years and $130 million. That falls around his expected AAV (The Athletic predicted $26 million, ESPN $27.5 million) and could get the job done unless Bellinger (or rather Scott Boras) is set on more years.

Dodgers could be on the verge of losing Cody Bellinger to the Yankees after NY's formal offer

Boras has said on Bellinger's behalf that he would be open to rejoining the Dodgers and, for their part, the Dodgers have been said to have interest. But if their focus is going to be on one or the other of Tucker and Bellinger, it was probably going to be Tucker, who is two years younger and has a more consistent track record.

But bringing Bellinger back is still a romantic notion that a lot of Dodger fans would like to see become reality. Olney added that he believes the Yankees are at an impasse with Bellinger, perhaps because of the years, and that could be where the Dodgers enter. If the Yankees are making it clear they aren't willing to go beyond what they've offered, that could change the complexion of the negotiations.

The Dodgers definitely wouldn't be willing to give him more than five, but perhaps an elevated AAV ($27.5 million? Even $28 million?) could get the job done. If the Yankees have already given him a formal offer, they're one step ahead, but there is still reason to believe Bellinger is exploring any and all possibilities before making a decision.