Aaron Judge is no longer the Yankees’ highest-paid player in 2026

Aaron Judge enters the 2026 season as the reigning American League MVP and the most visible star in New York. But for the first time since signing his record $360 million deal, Judge will not be the highest-paid player on the Yankees’ books.

This isn’t a renegotiation or a concession from the captain. Judge still counts for $40 million annually for tax purposes, reflecting his value, status, and the franchise’s commitment to him. The shift in payroll ranking comes from another source - a contract structured to deliver on the field that ended up reshaping the team’s accounting.

Bellinger’s cost surpasses expectations

Cody Bellinger is returning to New York under a $162 million contract that, due to its structure, pushes his effective salary to $48.55 million for luxury tax calculations in 2026. That number puts the former National League MVP ahead of Judge in fiscal terms and explains much of the Yankees’ inactivity in the offseason.

In addition to the luxury tax, the Yankees will also pay an “adjustment fee” on Bellinger’s contract from last year, plus a “valley charge,” according to The New York Post.

Keeping Bellinger on the roster will have a bigger financial impact than keeping Judge. While Judge counts as $40 million against the luxury tax, Bellinger’s deal inflates his cost well above that figure.

Same team, same questions

The Yankees are heading into 2026 with nearly the same roster they had in 2025. That team failed to defend the American League East title and could not repeat as AL champions, as they did in 2024. No significant pitching additions strengthened the rotation. No market solution addressed shortstop. No structural changes were made.

Anthony Volpe will miss the start of the season with a shoulder injury, and his performance was already declining in 2025. The team’s most demanding infield position remains exposed with no safety net. Yet the Yankees decided to stick with the core, absorb the wear and tear, and trust that their competitive window remains open.

Judge delivers value beyond salary

In terms of performance per dollar, Judge remains the Yankees’ best investment. He produces like an MVP, leads the clubhouse, and maintains the franchise’s competitive identity.

The combination of Judge, Gerrit Cole, Giancarlo Stanton, and now Bellinger creates a payroll structure that leaves little room for maneuver. Yankees general manager Brian Cashman made it clear at the start of the offseason that these commitments affect every corner of the roster.

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