Cody Bellinger contract details: Former MVP returns to Cubs on 3-year, $80 million deal

Cody Bellinger is at long last off the free-agent market.

The former MVP and Rookie of the Year has reportedly agreed to a three-year, $80 million contract to return to the Cubs, according to ESPN’s Jeff Passan, ending his extended wait without a team.

Bellinger entered the offseason expected to be among the most hotly pursued names in the class. He signed a one-year deal with the Cubs in 2023 to build back his stock after three straight disappointing campaigns with the Dodgers following his MVP-winning 2019 season.

Through some swing and approach adjustments, Bellinger enjoyed one of the best seasons of his career. He posted a sterling .307/.356/.525 slash line with 26 homers and 20 stolen bases. The batting average and stolen bases were career-bests, while the on-base, slugging and home run numbers were all his highest since 2019.

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Here's what you need to know about Bellinger's new contract with the Cubs.

Cody Bellinger contract details

The Cubs have reportedly re-signed Bellinger to a three-year, $80 million contract. The deal includes an opt-out clause after both 2024 and 2025.

Bellinger will make $30 million in 2024 and another $30 million in 2025 if he opts in, Passan reports.

This certainly marks an improvement for Bellinger, who bet on himself last offseason that he could capitalize on a one-year deal when hitting free agency for the first time. He signed a one-year, $17.5 million contract with Chicago hoping it would give him an opportunity to take advantage of a change of scenery.

At the same time, this might not be the exact deal Bellinger and agent Scott Boras were anticipating when the former MVP became a free agent more than three months ago. A $30 million salary in 2024 puts Bellinger among the highest-paid position players in baseball, but it’s a short-term deal relative to what was expected for the 28-year-old, and it guarantees less than nine figures.

The opt-out clauses give Bellinger some flexibility, so another All-Star caliber season in Chicago could set him up for a return to free agency and a larger deal next offseason.

Cody Bellinger stats

The 2023 season for Bellinger snapped a run of three straight disappointing years since he won MVP.

Bellinger had gotten his career off to a hot start. He launched 39 home runs to set a National League rookie record and posted a .933 OPS while displaying the ability to play standout defense at first or in the outfield.

The next year, Bellinger did not quite match the offensive output, but began to take a larger role in center field and still managed an .814 OPS.

His best year came in 2019. He launched a career-best 47 home runs and swiped a then-best 15 bases while slashing .305/.406/.629, which gave him an OPS north of 1.000 (1.035) for the first time in his career. He won his first Gold Glove and first Silver Slugger, earned his second All-Star nod and edged Christian Yelich for the NL MVP with 362 points to Yelich's 317.

Bellinger's stay at the top of the baseball world was short-lived, however. Though he posted 12 homers and a .455 slugging in 2020, most of his numbers declined in the COVID-shortened campaign as he hit .239 with a .333 on-base percentage in 56 games, though he did end the year with a World Series ring.

His 2021 campaign was the worst of his career. He underwent offseason surgery on his shoulder after dislocating it during a celebration during the 2020 postseason. Bellinger then sustained a fractured fibula in May and fractured a rib in September. On top of the injuries, Bellinger's numbers plummeted across the board. In just 95 games, he mustered only a .165/.240/.302 slash with 10 homers, ultimately leading to him losing his starting role. 

Bellinger returned as a more prominent piece of the Dodgers in 2022, but the numbers were still a far cry short of his past seasons. He turned in a .210/.265/.389 slash line with 19 home runs and 14 steals. During the season, he only took four plate appearances above the No. 6 spot in the lineup, and took 111 plate appearances batting ninth.

Bellinger left the Dodgers after the 2022 campaign and signed the one-year deal with the Cubs, and immediately appeared back in form. He posted a .976 OPS in the first month of the season with seven homers. After he was limited to 25 games in May and June combined, Bellinger continued his breakout further, blasting a 1.122 OPS in July, earning NL Player of the Month.

The explosive campaign continued over the final stretch of the season as he hit a .887 OPS in August and .827 OPS in September/October. From July 17 through the end of the campaign, he never hit lower than fourth in the order.