A pursuit of the consensus top free agent on the market is going to draw plenty of headlines and attention, but the next move the Blue Jays make could easily be in the bullpen.
Even if Tucker, Bo Bichette or another significant lineup upgrade is the place where Toronto can make the biggest impact, the position-player market has been glacial in recent weeks, with Josh Naylor earning the only multi-year contract.
Relievers, on the other hand, are coming off the board quickly. Five bullpen arms have already received eight-figure contracts, headlined by Devin Williams’ $51-million deal signed earlier this week.
If the Blue Jays want a proven, high-leverage arm, they are running short on options — but there are still a few relievers remaining who could help them in the late innings:
The Biggest Fish: Edwin DÃaz
2025 team:Â New York Mets
2025 stats:Â 9.00 K/9, 2.43 BB/9 and 0.61 HR in 74 IP with a 2.31 ERA, 2.96 xERA and 3.07 FIP for 1.4 fWAR
Projected contract (average of MLBTR + FanGraphs Crowdsource estimates):Â 4 years, $83 million
Why he’s worth a look: In the past four seasons, DÃaz has posted an ERA below 1.75 twice and fWAR over two twice. He brings the total value of a starter while delivering in a game’s biggest moments. Since 2021, his Win Probability Added (8.40) ranks 21st among all pitchers of any type ahead of guys such as Blake Snell (8.00), Chris Sale (8.00) and Kevin Gausman (7.81).
That’s far from a perfect statistic, but it gives some conceptual framing for why he may get paid like a solid starting pitcher. If DÃaz isn’t the best reliever in the game, he’s close to it.Â
So, the question of signing the star closer isn’t about his skill level, it’s a philosophical one about the value of a reliever. The Blue Jays’ pursuit of Jeff Hoffman last off-season showed a newfound open-mindedness about big-money bullpen arms, but DÃaz is a different proposition.
Making the case that DÃaz is worth what he’ll cost is one hurdle, but it’s also difficult to grapple with the opportunity cost associated with paying $20 million-plus to a reliever who could go to a player in a larger role. If the Blue Jays — who have been loosely linked to DÃaz — go get him, it will be an indication that they are willing to throw caution to the wind like never before.
The Rumoured Target: Pete Fairbanks
2025 team:Â Tampa Bay Rays
2025 stats:Â 8.80 K/9, 2.69 BB/9 and 1.04 HR in 60.1 IP with a 2.83 ERA, 3.04 xERA and 3.63 FIP for 1.0 fWAR
Projected contract (average of MLBTR + FanGraphs estimates):Â 2 years, $17 million
Why he’s worth a look: Performance volatility is unavoidable with relievers, but Fairbanks has managed to avoid an off year since a rough first taste of the major leagues in 2019. Since then, his ERA has been 3.59 or better every season, and he’s produced at least one fWAR in four of the last five years.
That consistency is appealing, as is his average velocity of 97.3 m.p.h. His fastball-slider combo works slightly better against right-handers, but his career platoon splits are fairly neutral, and he has extensive experience as a closer, meaning there are very few late-game situations he’d be uncomfortable in.
Despite all of the positives, there are a few red flags with Fairbanks. He has an unusual injury history that’s seen him consistently deal with one thing or another, like a hip injury in 2023, and a nerve issue and back injury in 2024. Until 2025, Fairbanks had never pitched 50 innings in a season at the major-league level.
The right-hander’s velocity, while excellent, has also come down about 2 m.p.h. since 2023, with strikeouts falling along the way.Â
Fairbanks is a logical target free target because of his consistent success in late-inning roles, but there are legitimate concerns that keep him out of sure-bet territory.
The Sleeper: Shawn Armstrong
2025 team:Â Texas Rangers
2025 stats:Â 9.00 K/9, 2.43 BB/9 and 0.61 HR in 74 IP with a 2.31 ERA, 2.96 xERA and 3.07 FIP for 1.4 fWAR
Projected contract (average of MLBTR + FanGraphs estimates):Â 1 year, $4.5 millionÂ
Why he’s worth a look: Armstrong isn’t the best-known reliever available, but he’s been one of the most effective lately. The right-hander is coming off a stellar season, and even though his 2024 was bumpy (4.86 ERA), he was outstanding in 2023 with a 1.35 ERA, putting him safely outside the one-hit-wonder category.
The veteran doesn’t throw particularly hard (93-94 m.p.h.), but uses three different fastballs and has a tight sweeper with limited downward movement that runs away from right-handed hitters.
Getting righties out has been his calling card his entire career. They’ve hit just .224/.288/.352 against him all-time with a putrid .113/.185/.144 last season in 178 trips to the plate. That could intrigue a Blue Jays team needing someone to handle critical right-handed matchups now that Seranthony DomÃnguez is a free agent.
If Toronto signed Armstrong, the excitement would probably be muted, but only 13 relievers have topped the 3.4 fWAR he’s produced since the beginning of the 2023 season. While he’s shown an initial interest in returning to the Texas Rangers, that’s no guarantee that he’s not open to other options.
The Reunion: Seranthony DomÃnguez
2025 teams:Â Baltimore Orioles/Toronto Blue Jays
2025 stats:Â 11.35 K/9, 5.17 BB/9 and 0.72 HR in 62.2 IP with a 3.16 ERA, 3.23 xERA and 3.47 FIP for 0.9 fWAR
Projected contract (average of MLBTR + FanGraphs estimates):Â Â 2 years, $17 million
Why he’s worth a look: DomÃnguez struggled through the Blue Jays’ playoff run, walking more hitters (11) than he struck out (10) in 11.1 innings, but that doesn’t mean a return to Toronto is out of the question.
For starters, the right-hander’s previous work in the post-season with the Philadelphia Phillies and Baltimore Orioles was rock-solid, so there’s no real worry that he can’t deliver in big moments. His career playoff ERA is 1.86 in 29 appearances.
The Blue Jays also liked him enough to acquire him midway through 2025, and he largely delivered on expectations by missing plenty of bats, walking too many hitters and keeping runs off the board at a solid clip. His struggles to harness his stuff and silence lefty opponents are well-documented, but he’s so dynamic against righties that he’s still a weapon when deployed with some caution.
Bringing DomÃnguez back wouldn’t feel like a massive upgrade to a bullpen that faltered in the playoffs, but if Yimi Garcia is healthy and Louie Varland settles in, DomÃnguez could thrive as a matchup fireman as opposed to a go-to eighth-inning option.Â
Unlike Fairbanks, there’s no sign that his velocity is slowing down, and he might even have some upside if the splitter and curveball he debuted in 2025 take a step forward next season.Â