Toronto Blue Jays finally won top-tier free agent sweepstakes (but it came at a cost)

The Toronto Blue Jays striking out in their attempts to make deals with top-tier free agents goes back to the 2023 offseason when the team lost out on Shohei Ohtani (Dodgers). They were in the mix for Juan Soto (Mets), Max Fried (Yankees), Corbin Burnes (Diamondbacks), Roki Sasaki, Teoscar Hernández, and Tanner Scott (all three signed with the Dodgers), but could not seal the deal with any of them.

The Blue Jays were desperate to make a big splash this offseason to entice their young superstars, Vladimir Guerrero Jr. and Bo Bichette, to sign extensions before both enter free agency next offseason. However, to create this powerful trio, the team had to overpay for an outfielder who somewhat broke out this past season.

Anthony Santander had been rumored to be talking with the Blue Jays for the past few weeks, so it was only a matter of time before the two sides agreed on a deal. On Monday, Santander signed a five-year contract worth $92 million that could reach $110 if the team adds a sixth year.

He also collected a $13.2 million signing bonus. The Blue Jays can void his 2027 opt-out clause by adding a sixth year.

Granted, the Blue Jays took a page out of the Dodgers' strategic playbook by making $35 million of his contract deferred money, but still, it's a lot of money for the former Oriole, who has only shown significant production (mostly offensively) in three of his eight seasons in the MLB.

Is Anthony Santander worth the massive contract the Blue Jays gave him?

The answer is yes and no. Yes, the Blue Jays needed a power bat added to an offense that ranked 26th in HRs (156) and 23rd in RBI (640) in 2024. No, besides his career year in HRs (44) and RBI (102) last season, Santander struggled at the plate, hitting just .235 with a .308 on-base percentage.

He does not get on base enough to warrant receiving such a large contract, especially if he is hitting in the third spot in the lineup, as FanGraphs predicts he will be. The three-hole hitter is normally a team's most consistent hitter. The switch-hitter hit 33 and 28 homers in 2022 and 2023, respectively, but he did not hit more than 20 home runs in the three seasons before 2022.

Spotrac estimated Santander's market value at $88 million for five years, so the real landing spot is not far off. However, in terms of annual salary, the $92 million deal is just below Teoscar Hernández (Dodgers) and Christian Walker (Astros); both players are far more consistent at producing power and getting on base.

Santander's contract is a home run if the Blue Jays can extend Guerrero Jr. and Bichette's contracts, and Santander can repeat his 2024 stats. However, those are some big "ifs" for a team that finished dead last in the AL East standings in the previous season. If they can not extend their young superstars, then this contract is a massive conflict for a team likely entering a rebuild.