Following last week’s flurry of activity, which saw the winter’s top two free-agent hitters come off the board in as many days, the Toronto Blue Jays are still assessing next steps after their failed pursuit of Kyle Tucker (Dodgers) and having to bid farewell to franchise cornerstone Bo Bichette (Mets).

Knowing what we do about general manager Ross Atkins and this front office, chances are they’ll remain open to further improving this roster, specifically the position-player group, with three weeks until pitchers and catchers report to Dunedin, Fla., for spring training. But they won’t seek a desperate pivot. If they add, it’ll be on their own terms.

That means it’s unlikely that the Blue Jays will enter any bidding war for the best remaining free-agent hitter available — outfielder Cody Bellinger, who seems destined to return to New York anyway, whether that’s with the Yankees or departing for the Mets.

There’s always the possibility of Toronto swooping in and making an opportunistic play for Bellinger — as the Mets did with Bichette, stealing him away from the rival Philadelphia Phillies — considering the left-handed-hitting outfielder’s market appears to be at a standstill. They have pursued him in previous off-seasons, and he would check many of the boxes that Tucker would have, but a splash of that calibre still figures to be unlikely.

Even without another meaningful addition, the Blue Jays remain in a strong position with their roster heading into next season, having significantly upgraded the starting rotation with Dylan Cease and Cody Ponce, lengthening the bullpen with Tyler Rogers, and ensuring they’d land an impact bat by signing Kazuma Okamoto. Regardless of their other failed pursuits, this has already been an A+ off-season for the organization.

Granted, adding Tucker or Bichette to the mix would’ve put another plus beside that grade, making for a one-for-the-ages winter of free-agent signings. Sometimes, things don’t fall your way in free agency. That’s part of what makes it so unpredictable. At the end of the day, though, there’s a strong case to be made that the Blue Jays remain the class of the American League.

Besides Toronto, the only AL teams to make a signing of at least $20 million (not including players who accepted their qualifying offers) this winter include the Baltimore Orioles (two), Boston Red Sox, Chicago White Sox, Houston Astros and Seattle Mariners — all with one. And you could argue that none of them have moved the needle far enough to surpass the reigning AL champs.

Further to that point, FanGraphs’ Depth Chart projections have the Blue Jays’ roster producing the second-most wins above replacement as a team (46.6) next season, trailing only, well, the Los Angeles Dodgers’ superteam (54.3). They’re projected to feature both a top-five offence and pitching staff as currently constructed. Thus, reinforcing the belief that this team is good enough to not only contend for a playoff spot in 2026, but to also return to the World Series next fall — the franchise’s ultimate goal after coming within two outs of winning their first title in 32 years last November.

While this roster, at least on paper, should provide the organization with an excellent opportunity to turn that aspiration into reality in eight-plus months, keeping things status quo with the offence, in particular, will mean betting on several “What Ifs” to fall in their favour.

As much potential as Toronto’s lineup possesses, there isn’t a ton of guaranteed certainty in terms of production beyond Vladimir Guerrero Jr., who’ll face massive expectations out of the gate coming off one of the most memorable post-season performances in franchise history. But what happens if his power stroke comes along slowly again, as it has during each of the last two seasons?

Or what if Anthony Santander doesn’t bounce back the way everyone hopes he will? The team is also counting on Okamoto and Addison Barger to emerge as key contributors, but what if both endure slow starts early on and struggle to meet expectations?

There’s also a strong possibility that a healthy dose of regression could hit this Blue Jays’ offence in ’26. Nobody should expect George Springer to finish as a top-three hitter in the sport again. But how far will he fall? Top 15? Top 20? And what about Alejandro Kirk (.276 AVG in two-strike counts, fourth-highest in the majors) and Ernie Clement (career-high 146 wRC+ versus left-handed pitching), considering each just enjoyed the best offensive showings (regular season + post-season) of their careers.

Consider this: seven of the 13 Blue Jays hitters to earn a minimum of 150 plate appearances last season were at least 15 per cent better (115 wRC+ or higher) than a league average hitter — Springer, Guerrero, Bichette, Davis Schneider, Daulton Varsho, Tyler Heineman and Kirk.

From that group, which no longer includes Bichette, how many players can this club safely assume will meet or finish above that threshold next season? One, for sure, maybe two or three — Okamoto posted a 140 wRC+ or better in five of eight seasons with the NPB’s Yomiuri Giants from 2018-25.

Without another meaningful offensive addition, this lineup will feature less margin for error as it begins the post-Bichette era. And if things don’t go their way, the onus will suddenly shift to the newly upgraded pitching staff to keep their heads above water.

As such, you can see why it’s, at least, worth contemplating further additions from this point on. Still, it’s also worth reminding that every additional dollar spent will be taxed at 90 per cent, with the franchise currently above the fourth luxury-tax threshold of $304 million. So, they can’t afford to spend carelessly.

Toronto’s position-player group also remains in the same crowded position it faced pre-Tucker and Bichette signings, with any further additions cutting into playing time for the current 13-hitter group. If management does make another splash, that means it needs to raise the ceiling of this roster rather than its floor.

Acquiring an outfielder still makes the most sense for the Blue Jays, whose infield remains set with Okamoto/Barger at third base, Andrés Giménez at shortstop, Clement/Schneider at second and Guerrero at first. There’d likely be a much simpler pathway to consistent playing time in that regard, especially for a left-handed-hitting impact bat.

Whoever the front office acquires, if this team isn’t finished adding this winter, would need to be a substantial upgrade over Nathan Lukes — who’d surely lose his roster spot in any scenario, particularly in favour of another lefty hitter.

Barring an unexpected Bellinger signing or, to a lesser extent, an around-the-edges addition like Austin Hays or Miguel Andujar (both quality platoon options in right-on-left matchups), Atkins would likely have to utilize the trade market amidst the severely diminished free-agent crop.

As for which teams feature pieces that would match Toronto’s needs and could be interested in selling, the St. Louis Cardinals stand out as an ideal trade partner with intriguing targets, such as Brendan Donovan and Lars Nootbaar (both free agents after 2027), or Alec Burleson (who features an additional year of club control than those first two).

Donovan, who’s reportedly been on the radar of several interested suitors this winter, would fit more as an infielder with the Blue Jays, likely at second, but does feature the type of versatility — with prior experience at every position except centre field, as well as pitcher and catcher — that this franchise highly covets. Plus, given that Clement owns an 87 wRC+ in 708 plate appearances versus right-handed pitching since 2024, the Cardinals’ infielder would provide a platoon advantage at second next season.

Alternatively, the Minnesota Twins could also act as a valuable trade partner once again if they’re willing to move Trevor Larnach or Matt Wallner. However, a considerable gap in acquisition cost would undoubtedly exist between that pair of left-handed-hitting outfielders, with the latter featuring four seasons of control versus the former’s two.

Or perhaps Toronto’s brass opts for more of a big-game-hunting approach. With a decent mix of close-to-MLB-ready prospects and high-ceiling, but still multiple-seasons-away pieces in the pipeline, they might be able to revisit the Steven Kwan conversation that arose around last season’s trade deadline.

The Guardians aren’t in a position to aggressively sell with Kwan — not yet, at least — considering the 28-year-old outfielder has two more seasons of club control before hitting free agency. And they’ll need his services to compete in the wide-open AL Central in ’26. But if the Blue Jays become all-in on this front, meaning every prospect not named Trey Yesavage is available, maybe the makings of a trade could materialize.

It’s also possible that none of these hitters are traded before Opening Day arrives. Acquiring any player listed here could prove too lucrative for management, prompting them to stand pat and wait to see what they have before considering offensive additions around next season’s trade deadline.