Blue Jays ranked high on The Athletic's most improved teams so far this offseason

The Toronto Blue Jays are undoubtedly one of the offseason's biggest winners, having signed four major free agents to long-term contracts.

Just how much better have they gotten, though? According to The Athletic's Jim Bowden, the Blue Jays are the third-most improved team in Major League Baseball through Jan. 5, behind only the Baltimore Orioles and Pittsburgh Pirates.

Blue Jays lauded for major free agent signings, with a hint that they may not be done quite yet

For those who need a brief recap on the Blue Jays' biggest moves this offseason:

— They signed Dylan Cease to a seven-year, $210 million deal. The 30-year-old has thrown at least 165 innings in five straight seasons, has struck out 28.6% of opposing hitters in his career, and recorded a 3.46 xERA and 3.56 FIP with the Padres last year. He figures to be Toronto's Opening Day starter in 2026.

— They signed Cody Ponce to a three-year, $30 million deal. The 31-year-old hasn't pitched in the MLB since 2021, though he won the KBO's MVP award in 2025 while pitching to a 1.89 ERA across 180.2 innings, striking out 272 hitters. He should slot in as the team's No. 5 starter.

— They signed Tyler Rogers to a three-year, $37 million deal. The 35-year-old has made at least 68 appearances in five straight seasons and posted a 1.98 ERA in 2025. He should be one of the primary set-up men for closer Jeff Hoffman.

— They signed Kazuma Okamoto to a four-year, $60 million deal. The 29-year-old posted a 210 wRC+ in 2025 and hit 30-plus home runs six times in eight seasons in the NPB. He should start somewhere in the infield, likely at third base.

The definition of "most improved" is always difficult to explain; the Orioles and Pirates ranked ahead of the Blue Jays on Bowden's list, mostly because they finished last in their respective divisions last year. They have more upward mobility than the reigning AL champs, who are still facing the potential loss of Bo Bichette in free agency.

Still, in terms of talent added, it's hard to argue that anyone has done more than the Blue Jays this offseason.

Perhaps most intriguingly, Bowden left this little tidbit at the end of his section praising the Blue Jays: "Toronto is likely not done yet, either. The Okamoto signing does not prevent them from signing Tucker or Bichette (who would play second base if they bring him back). However, it does take them out of the Bregman sweepstakes."

Money isn't limitless, but the Blue Jays have been dreaming big all winter. Signing Tucker or Bichette would be the ultimate cherry on top of a near-perfect offseason.