Blue Jays to sign Chad Green

The Blue Jays and the right-hander Chad Green they agree to a deal that will guarantee him $8.5 million over two years. He will make $2.25 million in 2023, and then the Jays have the option to trigger a $27 million option over the next three years, with up to $1 million in bonuses. If they decline, Green’s player option for 2024 will be $6.25 million with $2 million in bonuses. If he declines, the Jays can trigger a two-year, $21 million option with $1 million in bonuses. Because player options are considered guaranteed, the $8.5 million figure comes from the salary in 2023 and the player option in 2024. Green has already passed his physical.

Green, 32 in May, has been a quality reliever for the Yankees for the past seven seasons, but was sidelined last May and underwent Tommy John surgery shortly thereafter . This agreement provides both parties with some security for the future. If Green comes back healthy and looks like his old self, the Jays can get some long-term value out of their investment by keeping him around for the next few seasons. If Green has to suffer some sort of setback or struggle to get back on track upon his return, he’ll at least be able to lock in some salary for 2024.

An 11th-round draft pick of the Tigers in 2013, Green and Luis Cessa went to the Yankees in the December 2015 trade he sent Justin Wilson in detroit He was primarily a starter at the time and made his MLB debut in 2016 in a swing capacity. That was essentially the end of his time as a true starter, as the Yanks made him a full-time reliever. He made one start in 2017 and 15 in 2019, but they were of the “open” variety, none of them more than two innings.

Since making that transition, he’s been somewhat quietly one of the most effective relievers in the league. Over the last six major league seasons, he has thrown 338 innings in 260 total appearances with a 2.96 ERA, striking out 33.4% of the batters he faced while walking just 6.1%. Among relievers to pitch more than 300 innings in that stretch, he ranks fourth in strikeout percentage, behind only the elite guys. Josh Hader, Edwin Diaz i Liam Hendrix and arriving ahead Kenley Jansen i Ryan Pressly. Green was never given the closing role due to the presence of Aroldis Chapmantallying just 11 career saves so far, but has 52 saves.

Tommy John surgery was very poorly timed for Green, as he was just months away from qualifying for free agency. If not for that, he would have been one of the best relievers this offseason. However, if he can get back on the mound and post results similar to what his track record already has, he’ll still end up with a nice payday. After making $2.25 million this year, if the Jays pick up that three-year option, it will hit $29.25 million in earnings. That will be a bit shy of other deals for notable relievers this offseason, such as $32 million for Jansen, $33 million for Taylor Rogers and $34.5 million for Rafael Montero.

For the Jays, this won’t immediately affect their bullpen, but it will potentially give them a boost at some point later this year. They probably will Jordan Romano in the closer role, with other high-leverage jobs going to pitchers like Yimi Garcia, Erik Swanson, Anthony Bass i Team Mayza. Once Green is able to return, he will jump into the mix with this group. The Jays will now have two pitchers potentially bolstering their staff midway through the upcoming campaign, com Hyun Jin Ryu also underwent TJS last year and is guidance a return around the All-Star break. The Jays have a full 40-man roster and should make the corresponding move to add Green, but it’s also possible they’ll just wait a couple of weeks to make it official. When pitchers and catchers report to spring training, teams can transfer players to the 60-day disabled list. With Green and Ryu both expected to miss the first two months, it’s likely both will be transferred there.

Financially, this drives the Jays a little further into luxury tax territory. List resource it now pegs its competitive balance tax figure at $246 million, about $13 million above the $233 million threshold. As a first payer in the lowest tax bracket, the club is subject to a 20% tax on its surpluses, currently just over $2.5 million.

Michael Marino of Fantrax first reported that the Jays and Green were in agreement. Sportsnet’s Shi Davidi for had $8.5 million guaranteed and the presence of options for 2025 and 2026, as well as adding the option breakdown later (Twitter links). The Athletic’s Ken Rosenthal first added the complex options framework and that Green overcame his physique (Twitter links).