Blue Jays Sign Anthony Santander to $92.5M Deal with Massive Deferrals

TORONTO, Canada — The Toronto Blue Jays have signed outfielder Anthony Santander to a five-year, $92.5 million contract, but the deal includes a staggering $61.75 million in deferred payments, reducing its present-day value to $68.6 million, according to Ken Rosenthal of The Athletic.

The agreement, announced Wednesday, marks a significant shift in the Blue Jays’ strategy after repeatedly losing out to the Los Angeles Dodgers in high-profile free-agent negotiations. Santander, 29, will earn an average annual value (AAV) of approximately $13.7 million, far below the $20 million AAV initially reported.

“This is a smart move by the Blue Jays,” said one MLB executive, who spoke on condition of anonymity. “Teams are increasingly using deferrals to manage payroll while still attracting top talent. It’s a win-win for both sides.”

Santander, a switch-hitting power hitter, is coming off a strong 2024 season with the Baltimore Orioles, where he posted a .280/.380/.459 slash line with 24 home runs and 10 stolen bases. His 139 wRC+ ranked 15th among qualified batters, and his 4.3 WAR placed him among the top 25 position players in MLB.

The deferred payments, which will be spread out over several years, allow the Blue Jays to allocate more resources to other areas of need. However, the practice has drawn criticism from some analysts who argue that it obscures the true financial commitment of teams.

“The incentives here are all wrong,” said a sports economist. “Teams don’t have a strong incentive to disclose the real value of these deals, and players might not fully understand the long-term implications of deferrals.”

Santander’s signing comes as the Blue Jays look to rebound from a disappointing 2024 season. The team has also been linked to Jurickson Profar, another free-agent outfielder, as they seek to bolster their lineup.

“We’re committed to building a competitive team,” said Blue Jays General Manager Ross Atkins. “Anthony is a proven performer who brings power and versatility to our lineup. We’re excited to have him on board.”

Santander’s deal is the latest in a series of high-profile contracts with significant deferrals, following the Dodgers’ recent signings of Shohei Ohtani and Yoshinobu Yamamoto. The trend has sparked debate about the long-term financial health of MLB teams and the fairness of such agreements to players.

“If players are willing to accept these terms, teams will keep doing it,” said one agent. “But it’s crucial for players to have the right advisors to navigate these complex deals.”

As the Blue Jays prepare for the 2025 season, Santander’s signing signals their determination to compete in a highly competitive American League East. Whether the deferred payments will pay off remains to be seen.