Blue Jays prepare to add after taking care of business with free agents

SCOTTSDALE, Ariz. — A leverage reliever locked in for two more years. A pair of depth arms added to the 40-man roster, one familiar, one new. A qualifying offer extended to one of the team’s free agents, ensuring a compensatory draft pick should he sign elsewhere. 

The first steps of the Toronto Blue Jays’ off-season went down Monday as executives and agents gathered at the Omni Scottsdale Resort and Spa, where the annual GM Meetings open Tuesday. 

This year’s arrival day was busier than usual as it coincided with deadlines for contract options to be resolved, qualifying offers for free agents to be extended and players on the 60-day injured list to be reinstated.

To that end, the Blue Jays exercised the third option possibility on Chad Green’s creative contract, choosing a higher average-annual value but smaller total commitment in securing the electric right-hander for $21 million over the next two years. The 32-year-old will be paid $10.5 million in each of the next two years after the club first turned down a $27-million, three-year option and the pitcher then passed on his $6.25-million, one-year option.

His return further builds out a dominant back-end of the bullpen that also includes all-star closer Jordan Romano, Yimi Garcia and Erik Swanson. Green looked to be recapturing past form after coming back from Tommy John surgery, appearing in 12 games with 16 strikeouts in 12 innings.

In choosing $21 million over two, the Blue Jays end up slotting Green above recent two-year free-agent, leverage-relief deals like Blake Treinen ($17.5 million), Chris Martin ($17.5 million), Hector Neris ($17 million) and Joe Kelly ($17 million), but behind closer Kenley Jansen ($32 million).

There’s a case to be made for value in the three-year option, as well, put against recent deals for Rafael Montero ($34.5 million), Taylor Rogers ($33 million), Joe Jimenez ($26 million) and Kendall Graveman ($24 million).

Still, making such a large commitment to a reliever is a bit of a shift for the Blue Jays, who have tended to be more conservative in the oft volatile relief market.

That isn’t expected to impact the club’s spending power in an attempt to upgrade an offence that hit below expectations this past season. The Blue Jays are also facing the loss of free agents Matt Chapman and Kevin Kiermaier, both Gold Glove winners, along with Whit Merrifield, whose $18-million contract option was turned down on both ends last week, and Brandon Belt. 

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Veteran starter Hyun Jin Ryu is also on the open market and of that group, only Chapman was extended a qualifying offer, this year set at $20.325 million. That guarantees that the Blue Jays will receive compensation if he departs, as expected, which as a team that paid the Competitive Balance Tax, or CBT, a year ago, means they’d get a draft pick after the fourth round next year.

In that vein, if they sign a qualified free agent, the Blue Jays would lose their second and fifth highest picks plus $1 million in international bonus pool space. Shohei Ohtani and Cody Bellinger are the two players in that class who make the most sense for them from a roster perspective, but landing either will be difficult and expensive.

As things stand, the Blue Jays are at a projected CBT calculation of $216 million for 2024 between guaranteed money, estimates for arbitration-eligible players and salaries for 0-3 to service time players. President and CEO Mark Shapiro last month said he expected their spending in 2024 to be similar to this year, which at roughly $247 million, suggests GM Ross Atkins still has at least $30 million to work with. 

The pitching depth they added Monday won’t eat into that, as Brendon Little, acquired from the Chicago Cubs for cash, gives them an optionable lefty with a mid-90s sinker/slider repertoire capable of throwing multiple innings. Both he and Mitch White, the right-hander who struck out 43 batters in his final 33.1 innings over seven starts at triple-A Buffalo after struggling badly in the majors earlier in the season, were added to the 40-man roster.

Also reinstated back to the 40-man roster from the 60-day injured list were relievers Adam Cimber and Hagen Danner plus infielder Otto Lopez.

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