Cody Bellinger is a free agent. MLB.com is keeping track of the latest news and rumors surrounding the 2019 NL MVP.

Jan. 20: ‘Widespread belief’ that Bellinger will re-sign with Cubs
Several teams have been connected with Bellinger so far this offseason, including the Blue Jays, Giants and Mariners. But according to MLB.com’s Mark Feinsand, there is “widespread belief within the industry” that Bellinger will re-sign with the Cubs, though “only if/when his asking price comes down.”

The Cubs and Bellinger were certainly a good match in 2023, when the former NL MVP produced a strong bounce-back campaign following three down years at the plate. Bellinger hit .307/.356/.525 with 26 home runs and 20 steals after posting a .648 OPS from 2020-22. On the heels of that performance, the 28-year-old center fielder/first baseman is reportedly seeking a contract north of $200 million.

Chicago’s acquisition of Busch is especially intriguing as it relates to the team’s free-agent pursuits, with The Athletic’s Sahadev Sharma (subscription required) reporting that Busch is expected to enter Spring Training as the team’s primary first baseman.

The Cubs have been pursuing Cody Bellinger and Rhys Hoskins, two of the top first-base options on the first-agent market this offseason, but the move to land Busch could cause Chicago to focus its resources elsewhere, perhaps toward signing third baseman Matt Chapman or starter Jordan Montgomery, two other free agents to whom the Cubs have recently been connected.

Bellinger played center field more often than first base for the Cubs in 2023, but as Sharma notes, the team considers top prospect Pete Crow-Armstrong (No. 12 overall) to be its center fielder of the future. So if they do re-sign Bellinger, it would likely be as a first baseman.

Dec. 27: Where do the Blue Jays stand in the Belli market?
After missing out on Shohei Ohtani and Yoshinobu Yamamoto, the Blue Jays have been considered one of the favorites to land Bellinger, along with the incumbent Cubs. However, it’s fair to wonder if Toronto is still a fit for Bellinger now that the team is bringing back center fielder Kevin Kiermaier. A source told MLB.com’s Mark Feinsand on Tuesday that the Blue Jays and Kiermaier have reached a one-year deal for $10.5 million.

The Blue Jays followed that up by agreeing to a two-year deal with another position player, utility man Isiah Kiner-Falefa, on Wednesday.

Toronto does still have a need for a left-handed bat, and USA Today’s Bob Nightengale hears the team remains interested in Bellinger. That said, it’s hard to imagine the Jays meeting Bellinger’s price tag — he’s seeking more than $200 million, according to Feinsand — when they already have center field and first base covered by Kiermaier and Vladimir Guerrero Jr., respectively.

A Blue Jays deal with Kiermaier could put the Cubs in the driver’s seat when it comes to the Bellinger market. As Nightengale notes, Chicago now has a greater need and desire to sign him than Toronto does.

Dec. 27: How likely are Giants to land Bellinger?
The Giants made their first big move of the offseason Dec. 14, inking Korean center fielder Jung Hoo Lee to a six-year, $113 million deal, but there’s still a sense San Francisco seeks to upgrade its offense, MLB Network insider Jon Heyman reported Wednesday. If so, could we be seeing Belli by the Bay?

Don’t rule it out. Susan Slusser of the San Francisco Chronicle said Tuesday on MLB Network the Giants appear to have “decent interest” in Bellinger — not to mention the financial means to land him.

“They obviously have plenty of money to spend,” Slusser said.

According to Heyman, the Giants are “big-game hunting,” showing interest in pitcher Blake Snell and third baseman Matt Chapman as well as Bellinger. If San Francisco lands both Snell and Chapman, a deal for Bellinger is almost certainly off the table, but Slusser believes signing one of the two could leave the Giants free to pursue the 2019 National League MVP.

“I think the Cubs probably have the upper hand there, but if the Giants get any sense at all that they can be in it, I think that they should really, really pursue that strongly because suddenly that outfield looks like one of the best around,” Slusser said.

Heyman, too, deemed the incumbent Cubs more likely than the Giants to sign Bellinger, noting that the Angels couldn’t be ruled out, either. But San Francisco certainly appears to be in the mix.

Dec. 19: Have the Blue Jays emerged as the favorites for Bellinger?
Last week, MLB Network insider Jon Heyman reported that the Cubs and Blue Jays were the two “likeliest” teams for Bellinger. Is it possible that one of those teams has emerged as the favorite?

In his latest article, MLB.com’s Mark Feinsand looked at the five key questions about Bellinger’s market. Feinsand echoed Heyman’s reporting about the Blue Jays and Cubs being the two favorite teams but said that the Blue Jays “feel like the favorites.”

In a similar vein, MLB Network insider Jon Paul Morosi reported on Tuesday that Toronto was “the team to watch” in the Bellinger sweepstakes. Likewise, USA Today’s Bob Nightengale reported on Dec. 17 that Toronto has “emerged as the favorite” for Bellinger.

As Feinsand and Morosi noted, the Blue Jays made a serious bid in their unsuccessful attempt to land Shohei Ohtani, signaling a desire to spend significant money to land a star player this winter. With Bellinger reportedly seeking a deal north of $200 million — according to reports from Heyman and Feinsand — the Blue Jays could certainly be one of the teams signing him to a big deal.

The fit is obvious for the Blue Jays, who need an impact left-handed bat in the middle of their lineup. Perhaps more importantly, the Blue Jays are entering the final two years with Bo Bichette and Vladimir Guerrero Jr. under club control. That only adds more urgency for a Blue Jays team that has made the playoffs in consecutive seasons — and in three of the last four seasons — but hasn’t won a playoff game since 2016.

Dec. 17: Are the Bellinger sweepstakes down to Cubs, Blue Jays?
A handful of teams have been tied to Bellinger in the rumor mill this offseason, including the Giants, Yankees, Mariners and Padres. But as we get close to Christmas, perhaps there are only two top contenders to sign the 2023 National League Comeback Player of the Year.

MLB Network insider Jon Heyman considered the Cubs and Blue Jays earlier this week to be the two “likeliest” teams for Bellinger. And on Sunday, USA Today’s Bob Nightengale wrote that Toronto has “emerged as the favorite” while Chicago is “still in the hunt.”

The Blue Jays could use a big move after coming up short for Shohei Ohtani. However, that heavy interest in Ohtani indicates Toronto could be able to afford just about anyone in free agency. It’s worth noting that Bellinger is seeking a contract worth $200 million or more, according to Heyman.

The Cubs are interested in Bellinger and other marquee free agents, such as third baseman Matt Chapman. However, The Athletic’s Sahadev Sharma and Patrick Mooney (subscription required) indicated that president of baseball operations Jed Hoyer may not be willing to pay that price and could instead wait on Bellinger to see if he “ends up falling to the Cubs on a more palatable deal.”

Dec. 13: Is a Belli reunion with Cubs becoming more likely?
A reunion between the Cubs and Bellinger may be becoming more likely than it appeared a few weeks ago.

Two potential suitors for Bellinger, the Yankees and Giants, have gone elsewhere to add outfield help, with New York acquiring Juan Soto and Alex Verdugo in a pair of trades and San Francisco picking up Jung Hoo Lee on the free-agent market (a source told MLB.com’s Mark Feinsand).

Meanwhile, the Cubs saw one of their reported free-agent targets, Shohei Ohtani, sign with the Dodgers. Chicago has been quiet since signing manager Craig Counsell to a five-year, $40 million deal.

However, The Athletic’s Sahadev Sharma thinks Bellinger’s asking price will need to come down before the Cubs consider re-signing him.

“I think both sides would love a reunion, [but] this is free agency and this is [agent] Scott Boras,” Sharma said Wednesday. “Very rarely does the player when working under Scott Boras really take charge and say, ‘I want to play here, I don’t care if it’s millions of dollars less.’ And right now, I just don’t think [Cubs president of baseball operations] Jed Hoyer is going to pay that $200 million-plus for Cody Bellinger. It sounds like it may be a lot more than that early on with what Boras is asking for. That price has to come down. And if it’s in the $160 [million to] $180 [million] range, maybe we see a reunion. But I just don’t see it happening now.”

The Blue Jays may be the Cubs’ biggest competition for Bellinger. On Wednesday, MLB Network insider Jon Heyman called Toronto and Chicago “the two most likely teams” for the former National League MVP.

Dec. 12: How does Lee’s deal with Giants affect Bellinger’s market?
It wasn’t Bellinger, but a top free-agent center fielder came off the board Tuesday. Korean star Jung Hoo Lee agreed to a six-year, $113 million deal with the Giants with an opt-out after four years, a source told MLB.com’s Mark Feinsand. With Lee headed to San Francisco, what does that mean for Bellinger?

Prior to signing Lee, the Giants had been a rumored destination for Bellinger, who spent his first six seasons with the Dodgers before a bounce-back season with the Cubs in 2023. Chicago has interest in bringing back the 2019 NL MVP, MLB Network insider Jon Heyman wrote Dec. 4 in the New York Post. The Mariners are also interested in Bellinger, according to MLB Network insider Jon Paul Morosi. According to Bob Nightengale of USA TODAY Sports, Bellinger is “on the radar” of the Blue Jays, Padres and Cubs — plus the Giants, who could still add Bellinger after signing Lee.

It still could be a while before Bellinger makes his decision. Feinsand reported Dec. 4 that the outfielder was seeking a deal bigger than the eight-year, $162 million guarantee Brandon Nimmo received from the Mets in December 2022, with a source telling Feinsand that Bellinger’s free agency could last “a long time.”