TORONTO — The Toronto Blue Jays have secured outfielder Anthony Santander with a lucrative five-year contract valued at $92.5 million, which also includes up to $61.75 million in deferred payments.

Santander has the option to opt out of the contract after the 2027 season, allowing him to enter free agency. However, should he choose to opt out, Toronto can counter by guaranteeing an additional $17.5 million, which would escalate the total contract value to $110 million over a span of six years.

If he decides to leave the deal after three years, Santander stands to earn $60 million.

As part of the agreement disclosed on Monday, he will receive a $13.5 million signing bonus, of which $6.75 million is deferred to a later date. His salary schedule includes $13.5 million in 2025, followed by $16.5 million in both 2026 and 2027, with subsequent salaries of $14.75 million in 2028 and $12.75 million in 2029. Additionally, the Blue Jays plan to defer $10 million each year.

The team holds a $15 million option for the year 2030, which comes with a buyout cost of $5 million, all of which will be deferred.

Should Santander opt out, the Blue Jays could negate this by raising his 2028 salary to $17.25 million, his 2029 salary to $15.25 million, and exercising their option for 2030 at a rate of $17.5 million.

Santander’s contract also stipulates performance bonuses; he’d earn $150,000 if named the American League Most Valuable Player, $125,000 for second place, $100,000 for third, $75,000 for fourth, and $50,000 for fifth in MVP voting. He would also receive $50,000 for each All-Star selection, if he is voted World Series MVP, awarded a Gold Glove, or given a Silver Slugger award. For being named League Championship Series MVP, he would earn $25,000.

Last season, Santander posted career-best numbers, hitting 44 home runs along with 102 RBIs and scoring 91 runs over 155 games played for the Baltimore Orioles. He recorded a batting average of .235 with a .506 slugging percentage, earning his first selection for the AL All-Star team.

Having turned 30 in October, Santander made history by becoming the first switch hitter since 2006 to hit 40 homers in a season. He now joins the elite group of switch hitters that have managed to hit at least 44 homers in a single season, which includes legends such as Mickey Mantle (who accomplished this twice), Lance Berkman, and Chipper Jones.

His contribution was significant in helping the Baltimore Orioles reach the playoffs for the second consecutive year, although they were ultimately swept by the Kansas City Royals in the initial round.

After the conclusion of the season, Santander received a qualifying offer, meaning that the Orioles will receive a compensatory draft pick following the first round of this year’s amateur draft. Conversely, the Blue Jays will forfeit their second draft pick and $500,000 in international signing bonus allocation for 2026.