On Friday evening, the Blue Jays made a major move to enhance their bullpen, finalizing a three-year, $45 million deal with Jeff Hoffman. The contract includes a $9 million signing bonus and up to $7 million in performance-based incentives. Hoffman can earn $600K for reaching 60, 70, 80, and 90 innings pitched each season. His salary will be $9 million in 2024, then $14 million annually through 2026 and 2027.
Blue Jays general manager Ross Atkins stated that Hoffman will have the chance to close games, indicating that the team plans to use him in high-leverage situations. Hoffman, a 32-year-old right-hander, returns to the organization that drafted him in 2014. Though he was once a top pitching prospect, his early career was challenging, particularly at Coors Field with the Rockies. He was traded to the Reds before the 2021 season, where his career began to turn around after moving to the bullpen.
In his two seasons with the Reds, Hoffman posted a solid 4.28 ERA in 66 appearances. He signed with the Phillies in 2023 and had a breakout year, registering a 2.41 ERA in 52 1/3 innings, followed by an even better 2.17 ERA in 66 1/3 innings in 2024. Hoffman became a key piece of the Phillies’ bullpen, ranking highly among relievers in strikeout rate and ERA over the past two seasons.
The Blue Jays’ deal for Hoffman is in line with recent contracts for top relievers. Hoffman’s performance over the past two seasons earned him a deal similar to other top setup men. However, reports indicate that Hoffman was initially set to sign with the Orioles before they backed out due to concerns over his shoulder during the physical exam. Despite past injury concerns, Hoffman has been healthy over the last two years.
This signing marks Toronto’s largest free-agent move of the offseason, following a $15 million deal to bring back Yimi GarcÃa and the trade for Nick Sandlin. The Blue Jays, who had the worst bullpen in the American League last season, are looking to strengthen their relief corps, with Hoffman joining Erik Swanson and Chad Green in late-inning roles. However, the team may still need to address their offense, particularly the outfield and third base. Toronto is currently approaching the luxury tax threshold for the upcoming season.
