The Toronto Blue Jays are making big moves this offseason.
They already signed Dylan Cease, and now they've also added another pitcher, Cody Ponce.
Ponce was an MVP in the Korea Baseball Organization after leaving MLB, and on Tuesday, the Blue Jays signed him to a three-year deal worth $30 million total.
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ESPN's writers gave the signing an A-minus grade. This is the case David Schoenfield made for Ponce:
The last time we saw Cody Ponce in the majors he was one of the worst pitchers in the league. Pitching primarily in relief for the Pirates in 2021, he ranked 426th in ERA out of 436 pitchers with at least 35 innings. He ranked 436th out of 436 in batting average allowed and also ranked 436th in OPS allowed.
Ponce went to Japan in 2022, pitched there for three seasons with mixed results and then joined Hanwha in the Korea Baseball Organization in 2025, where he went 17-1 with a 1.89 ERA and 252 strikeouts in 180⅔ innings to win league MVP honors. Whereas his fastball averaged 93.2 mph with Pittsburgh in 2021, the 6-foot-6 right-hander now sits around 95 mph and gets it up to 99, while mixing in a cutter, curveball and changeup -- the changeup being a new pitch that led to an impressive 36% strikeout rate in the KBO.
Now, the KBO is not MLB. This grade isn't predicting that Ponce is going to be a Cy Young contender but reflective of the contract. At three years and $30 million, it's a worthy gamble for the Blue Jays. If he's a 1-WAR pitcher for three years, he'll at least earn the money back. If he's a 2-WAR pitcher, it's a great deal. If he's a 3-WAR pitcher over the next three seasons, it will be one of the best deals of the offseason.
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It's an interesting fit with Toronto simply because of depth. The Blue Jays had a solid rotation before signing Cease. And now with Cease on board for seven years and $210 million, it's an even better pitching group.
Exactly where Ponce fits into that will be something that only makes itself clear when the spring rolls around.
For now, the Blue Jays have shown yet again they're going for it, and they aren't going to hold back on getting the guys they want.
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