As the race for free-agent star Juan Soto intensifies, the Toronto Blue Jays are firmly in the hunt for his services. According to New York Yankees beat writer Randy Miller, the Blue Jays are among five teams—along with the Yankees, New York Mets, Los Angeles Dodgers, and Boston Red Sox—that have already made contract offers to Soto.

Unlike last year’s free-agent market, where several players, including Blake Snell and Matt Chapman, waited until Spring Training to sign, ESPN’s Buster Olney expects Soto to make a decision quickly, allowing the rest of the market to fall into place. Olney anticipates Soto will make his choice within the next 10 days or so, which will help clarify the landscape for other teams. He adds that other top players like Alex Bregman and Pete Alonso are hoping for a resolution to the Soto situation soon.

The Blue Jays have been highly active in the pursuit of Soto and are ready to offer substantial contracts, as shown by their pursuit of Shohei Ohtani last year. Olney notes that while the Jays have the financial flexibility to make a significant offer—especially with only $65 million in obligations after 2025—they remain a distant third in the race for Soto behind the Yankees and Mets.

Olney describes Toronto as having a “puncher’s chance,” due to their ability to offer a big contract, but doesn’t believe Soto will leave New York for the Blue Jays. He compares Toronto’s position to that of Buster Douglas fighting Mike Tyson: they have a chance, but it’s unlikely.

Soto, a four-time All-Star, had an impressive .288/.419/.569 slash line last season with the Yankees and helped them reach the World Series in his first year in New York. The 26-year-old is also a 2019 World Series champion with the Washington Nationals.

Regardless of how the Soto sweepstakes play out, Olney believes the Blue Jays’ front office should prioritize securing an extension for their homegrown star, Vladimir Guerrero Jr., who will be a free agent after next season. Olney suggests that the Jays should focus all their efforts on locking up Guerrero, as he’s the cornerstone of their future.

While the Blue Jays also have to address the contract situation of shortstop Bo Bichette, Olney doesn’t expect an extension given Bichette’s injury-riddled 2024 season. He would be surprised if the Jays were to extend Bichette after such a challenging year.

Finally, the Blue Jays are rumored to be targeting free-agent pitchers, including Blake Snell, Corbin Burnes, and Max Fried, according to The Athletic’s Ken Rosenthal.