MLB rumors: Yankees make a second offer to Cody Bellinger, Freddy Peralta trade talks heat up

Here are your hot stove rumors for Monday, Jan. 5

Spring training camps open in five weeks and, before you know it, Cactus League and Grapefruit League games will begin. The top four free agents and 17 of the top 50 free agents remain unsigned, meaning there is a lot of hot stove activity to come between now and the start of camp. Here now are Monday's rumors and happenings.

Yankees make second offer to Bellinger

The Yankees have made a second offer to free-agent outfielder Cody Bellinger, reports the New York Post. They reportedly made an initial offer last week, though the numbers have not been made public. GM Brian Cashman has made it clear retaining Bellinger, who had a 4.9 WAR season with New York in 2025, is the team's top priority. We ranked Bellinger as the sixth-best free agent available this offseason.

The Yankees are also reportedly discussing righty Edward Cabrera with the Marlins, and a Cabrera trade could be tied to a Bellinger re-signing (and vice versa). Re-signing Bellinger would allow the Yankees to more easily include erstwhile top prospect Jasson Domínguez in a trade for a pitcher, Cabrera or otherwise.

Peralta talks expected to resume

Trade talks involving Brewers ace Freddy Peralta are expected to resume in earnest now that the holidays are in the rear-view mirror, reports The Athletic. The Braves, Dodgers, Mets, Red Sox, and Yankees are among the teams with interest. Peralta's $8 million salary in 2026 makes him affordable for any team. We ranked him as one of the offseason's top trade candidates.

The Brewers have a recent history of trading their best players a year before free agency (Corbin Burnes, Devin Williams, etc.) and that's where Peralta is right now. The asking price figures to be quite high given Peralta's effectiveness, his durability, and his low salary. To some teams, trading for Peralta could be more appealing than signing one of the top free-agent starters.

Pirates interested in Suárez

The Pirates want to add more offense and have interest in free-agent third baseman Eugenio Suárez, according to the Pittsburgh Post-Gazette. The club has already added Brandon Lowe and Ryan O'Hearn to a lineup that scored the fewest runs in baseball last year and hit the fewest homers than any team has hit in three years. We ranked Suárez as the 14th-best free agent this winter.

At the moment, Pittsburgh's top third-base option is gloveman Jared Triolo, and the middle of their lineup leans lefty-heavy with Lowe, Oneil Cruz, and Spencer Horwitz. Suárez would be a significant upgrade at the hot corner and bring needed righty power. The Pirates reportedly offered Kyle Schwarber more than $100 million, which could be good news for Suárez and his wallet. 

Phillies hire Mattingly

As expected, the Phillies have hired Don Mattingly as their new bench coach, the team announced Monday. Mattingly's contract with the Blue Jays expired at the end of the calendar year. He's still searching for that elusive World Series title after coming so close last season.

"I am excited to welcome Don Mattingly to Philadelphia. Having known Don for years and having worked closely with him in New York, I know that his knowledge of the game and his character make him a great addition to our tremendous coaching staff," Phillies manager Rob Thomson said in a statement.

Mattingly, 64, spent the last three seasons as Toronto's bench coach. He and Thomson overlapped for years with the Yankees. Mattingly's son, Preston, is Philadelphia's general manager under president of baseball operations Dave Dombrowski.