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Blue Jays position players reported to camp this morning for the club’s first full-squad workout of the spring, and superstar first baseman Vladimir Guerrero Jr. set a deadline of today for extension talks with the club ahead of his final season under club control before free agency. That deadline has come and gone, and Guerrero told reporters (including Keegan Matheson of MLB.com) this morning that the sides did not reach a deal. ESPN’s Jeff Passan adds that Guerrero does not intend to negotiate during the season and now expects to reach free agency, while Hazel Mae relays (Video Link) that Guerrero noted he “would not close the door” on signing if Toronto brass presented him with a “realistic” offer.
Guerrero, still just 25 until March 16, is one of the most accomplished young players in the league and is likely to enter free agency as the most sought-after player available. A four-time All-Star with a Gold Glove award at first base and two Silver Slugger awards under his belt, Guerrero is a .288/.363/.500 (137 wRC+) hitter for his career. That type of offensive talent will always be enticing to clubs in free agency, but what makes Guerrero stand out as a top-of-the-class hitter is his combination of youth and ceiling.
Few hitters in the game can accomplish what Guerrero has in his peak seasons; his 2021 campaign was second only to Shohei Ohtani in AL MVP voting as he hit .311/.401/.601 (166 wRC+). His 48 home runs were tied with Salvador Perez for the most in the majors that year, and his .401 on-base percentage led the American League while trailing only Juan Soto and Bryce Harper in the NL. Steps back offensively in 2022 and ’23 raised questions regarding whether that otherworldly performance might be a fluke, but Guerrero squashed those concerns by more or less repeating his 2021 heroics this past season. Guerrero slashed a sensational .323/.396/.544 (165 wRC+) in 159 games for the Jays this past year, hitting “just” 30 homers in the process but making up for that with a career-best 44 doubles and a 13.8% strikeout rate that was the lowest of his career. Just nine qualified MLB hitters struck out less often than Guerrero in 2024, and among that group only Jose Ramirez and his 39-homer campaign were able to top Guerrero’s .221 isolated slugging percentage.
Reaching free agency on the heels of his age-26 season should make Guerrero all the more attractive in free agency come November. Guerrero will hit the open market just one year older than Juan Soto was during his own free agency this past winter, and that young age was crucial for Soto in securing his record-shattering deal that figures to pay him $765MM over the next 15 years and could max out at more than $800MM. That massive payday came in spite of Soto being a limited defender in the outfield corners who does not provide substantial value on the basepaths. While Soto is arguably in a class all his own as a hitter, with his career 158 wRC+ nearly matching Guerrero’s peak seasons, his record payday is still great news for the Jays’ slugger as there’s arguably no better comparison for Soto in the league than Guerrero at his peak.
Given that, it’s easy to imagine the bidding for Guerrero’s services surpassing half of a billion dollars. That seems to be right around where Guerrero set the bar in extension talks with Toronto, as reports regarding his asking price have suggested he was looking for north of $450MM. As Passan notes, Guerrero answered with a simple “No” when asked if the Blue Jays had put forth an offer that was close to his price point, and given Guerrero said earlier this winter that Toronto’s offer to him prior to Soto’s deal with the Mets sat at $340MM it’s hard to argue with his assessment unless the club brought their offer significantly higher over the course of the offseason.
Given the gap between the Guerrero’s rumored demands and the offer he said the Blue Jays made, it’s hardly a shock that the sides did not work out a deal. That’s reflected in a poll of MLBTR readers last month, where just 19.49% of respondents believed Guerrero would sign long-term with the club before today’s self-imposed deadline. Even so, Guerrero made clear to reporters that he’d still like to be a Blue Jay for life even as he went on to note that Toronto will now have to compete with 29 other clubs for his services on the open market. On the other hand, he also noted (as relayed by Matheson) his desire to win a World Series championship with his next club. That desire to win could hurt the Blue Jays’ odds of keeping Guerrero, as they finished dead last in a crowded AL East division with a 74-88 record. They appear to be longshots for the postseason this year as well after the Yankees and Orioles augmented their already playoff-caliber clubs while the Red Sox put together a strong offseason that saw them add multiple star players in Garrett Crochet and Alex Bregman.
As for the front office’s perspective, club GM Ross Atkins spoke to reporters shortly after Guerrero did and expressed disappointment that a deal did not get done, as relayed by Matheson. Atkins went on to emphasize that the club “worked very hard” in their efforts to come together on a deal and added that the “motivation” on the organization’s part to keep their superstar in the fold is “still there.” Atkins refused to get into specifics regarding numbers and contract offers but described their offer to Guerrero as one that would’ve been record-setting for the Blue Jays and made Guerrero “one of the highest paid players” in baseball if signed (video link via Mae). Atkins also made clear that the club’s inability to get a deal done with Guerrero was not a matter of resources, though that’s hardly a surprise given their high-dollar bids for Ohtani and Soto the past two winters.
Going forward, the Blue Jays figure to continue trying to win during Guerrero’s final year of club control. They’ve long resisted the possibility of trade talks involving their star slugger and, after spending $166MM to add Yimi Garcia, Jeff Hoffman, Anthony Santander, and Max Scherzer in free agency this winter while adding another $96.5MM in trade by taking on the Andres Gimenez contract from the Guardians, it seems unlikely that they would change course now rather than push in for 2025 and hope they can convince Guerrero to return next offseason. It’s possible that they could revisit the possibility of dealing Guerrero at the trade deadline this summer if they’ve fallen completely out of the playoff picture by then, however, and if shopped Guerrero would be the most impactful rental moved at a trade deadline since Manny Machado in 2018.
