It makes sense as to why the Jays didn’t match the offer. Iglesias reportedly signed for $16 million on a one-year deal. While the right-handed pitcher is a talented pitcher, he’s 35 years old and just posted his worst ERA and FIP in a single season since 2019. A 3.21 ERA and 3.31 FIP are nothing to sneeze at, nor is his 253 saves in 291 opportunities. That said, the Blue Jays can do better.
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Iglesias’ contract is a lot for a reliever. For context, Shane Bieber opted into his player option for 2026, and he’ll only earn a salary of $16 million. Last off-season, the Blue Jays signed Jeff Hoffman to a three-year deal worth $11 million annually, with incentives that could bring it to $39 million over the three years. This was the largest contract the Jays have handed a reliever in the Mark Shapiro/Ross Atkins era, topping Yimi García and Chad Green’s deals.
The fact that the Blue Jays had interest in Iglesias, one of the top relievers who was available in free agency, shows that they’ll be looking to upgrade the pen. Everyone remembers the home run Hoffman gave up, so adding an established closer is a must this off-season. It’s worth noting that earlier in the month, it was reported that the Blue Jays had spoken to Edwin Díaz’s camp.
It’s almost a certainty that the Blue Jays are going to spend big; they’ve essentially done so since the 2020 off-season. Adding a high-leverage reliever is just one of many areas the Jays will have to focus on, as they still need to add a starter with term, and a bat. They’re considered the favourite to sign Kyle Tucker, which would arguably be the biggest free agent signing in the team’s history.
This off-season is going to be a fun one, buckle up!
