The Toronto Blue Jays actually pull away with some good news after another brutal day
Photo credit: Blue Jays insider
The Toronto Blue Jays had another brutal day as they missed out on more of their free agent targets but some good news was announced regarding the luxury tax threshold.
The Blue Jays found out some brutal news this evening as free agent Teoscar Hernandez has decided to return to the Los Angeles Dodgers on a 3 year contract worth $66 million.
The Blue Jays end up under the luxury tax threshold for the 2024 season
Despite it being a rough day in terms of free agency, the Blue Jays did end up under the 2024 luxury tax threshold which was set at $237 million which they end up coming in under at $233.9 million.
The Blue Jays started off the season in 2024 with a $244.3 million payroll but due to the disappointing season, they end up trading away a lot of players and got their payroll down to $233.9 million by the end of the season.
The Toronto Blue Jays, with a series of summer trades, cut their tax payroll to $233.9 million, under the $237 million threshold. The Blue Jays started the season projected at $244.3 million. -The Associated Press
This was due to them trading away players at the 2024 trade deadline like Yusei Kikuchi, Justin Turner and Kevin Kiermaier, while also moving Yimi Garcia and Nate Pearson all for cheap prospects in return.
The Blue Jays were able to shed the salaries of Yusei Kikuchi, Justin Turner and Kevin Kiermaier at the deadline. They also traded away Yimi Garcia and Nate Pearson, acquiring inexpensive prospects back. -Farkas
This is overall good news since they will not have to spend any money on a penalty for being over the luxury tax limit which in though would give them more money to spend in free agency.
Unfortunately, they have not yet spent any of that money that they are saving as all they have signed so far are small major league contracts.
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