After agreeing to a $28.5MM salary to avoid arbitration last week, the Blue Jays and Vladimir Guerrero Jr. can turn their focus to a long-term deal. The four-time All-Star said last month that the Jays had offered him around $340MM, which he said was well below his asking price. That offer reportedly predated Juan Soto’s $765MM agreement with the Mets that shattered prior contractual precedents.
Ken Rosenthal and Will Sammon of The Athletic report that the Jays have not had any extension talks with Guerrero’s camp since before Christmas. That indicates there was little to no discussion about a long-term deal in the talks to avoid exchanging arbitration filing figures. However, Rosenthal and Sammon write that extension talks are expected to pick back up before the beginning of Spring Training.
Guerrero said last month that he would cut off negotiations as soon as Spring Training begins. It’s common for players to publicly impose deadlines — many prefer not to discuss contracts once the regular season gets underway — but some players will ultimately continue talks beyond those “cutoffs” if they feel negotiations are making progress. If both team and player are amenable, extension discussions can take place at any point.
While Guerrero isn’t going to get Soto money, he’s clearly looking well beyond the $313.5MM extension that Rafael Devers received from the Red Sox over the 2022-23 offseason. USA Today’s Bob Nightengale wrote last week that Guerrero’s asking price was believed to be at or above $450MM. Jon Heyman of The New York Post suggests similarly, reporting that the former MVP runner-up is looking to top $400MM and could aim for a deal closer to the half-billion dollar mark.
It remains to be seen whether the Jays have the appetite for that kind of investment. They made bigger offers to Shohei Ohtani and Soto, suggesting they’re amenable to a huge expenditure for certain players. Ohtani and Soto presented opportunities to add superstars from outside the organization. Extending Guerrero would be a major boost to a fanbase frustrated by a series of near-misses in free agency over the last two winters. It could also be necessary to keep the team from going into a rebuild after next season. Toronto already faces an uphill path to contention in the AL East. Competing in 2026 if Guerrero and Bo Bichette walk may not be feasible.
In any case, the focus seems squarely on an extension. Rosenthal and Sammon write that the team much prefers to keep Guerrero rather than trade him. They suggest that, in order to even consider a trade, the Jays would need to receive a haul that tops what the Yankees sent to the Padres for one year of Soto’s services last winter.
New York sent two seasons of Michael King — who had proven himself as a multi-inning relief weapon and flashed significant upside in a limited look as a starter — as the headliner. The Yankees included highly-regarded pitching prospect Drew Thorpe (whom San Diego flipped as the centerpiece of the Dylan Cease deal), controllable depth starters Jhony Brito and Randy Vásquez, and backup catcher Kyle Higashioka to the Padres. The Yanks also got Trent Grisham in the deal.
That’s a massive haul for one year of any player, which reflects the Jays’ preference for holding onto Guerrero. Perhaps that’d change if extension talks don’t progress, though it’d be a major surprise if they dealt him before Opening Day. Toronto hopes to compete for a playoff spot this season. They could still add one of the top unsigned hitters (e.g. Anthony Santander, Alex Bregman, Pete Alonso). Even if the Jays don’t succeed in extending Guerrero, they’d presumably prefer to see how things play out in the season’s first half before deciding whether to make him available.