This story was excerpted from Keegan Matheson's Blue Jays Beat newsletter. To read the full newsletter, click here. And subscribe to get it regularly in your inbox.

TORONTO -- Any offseason brings new hope with it, even if that¡¯s still difficult to see after a 2024 Blue Jays season that produced so little of that.

The fun really begins on the fifth day following the conclusion of this World Series between the Yankees and Dodgers. That¡¯s when the doors of free agency swing open at 5 p.m. ET, along with the deadline for decisions on contract options and qualifying offers.

Before another offseason lurches to life, here¡¯s everything you¡¯ll need to know.

Which players are free agents?
The Blue Jays traded most of their pending free agents away at the Deadline, but Ryan Yarbrough came back from the Dodgers in the Kevin Kiermaier deal. He¡¯ll be Toronto¡¯s lone MLB free agent.

Are any likely to return or receive qualifying offers?
The Blue Jays don¡¯t need to worry about the qualifying offer (set at $21.05 million), but this organization loves Yarbrough. The rubber-armed lefty posted a 3.19 ERA over 98 2/3 innings last season and can seemingly pitch any day in any role. As Toronto tries to make the back end of their rotation work with Bowden Francis, Yariel Rodriguez and Jake Bloss, a veteran swingman makes a lot of sense. The front office and coaching staff liked what they saw.

Which players have options on their contract?
Nothing to see here, either! Chad Green¡¯s two-year option (covering 2024-25) was already picked up by the Blue Jays prior to last season, so he¡¯s now entering his final year of club control. Otherwise, the next big option decision comes after the 2026 season, when Jos¨¦ Berr¨ªos could opt out of his deal with two years remaining.

Who might be a non-tender candidate? When¡¯s the deadline?
Beyond Vladimir Guerrero Jr.¡¯s projected arbitration salary of $28.9 million, here are some names and projected arbitration salaries to consider, courtesy of Cot¡¯s Baseball Contracts:

RHP Jordan Romano ($7.75 million)
CF Daulton Varsho ($7.4 million)
C Alejandro Kirk ($4.2 million)
RHP Erik Swanson ($2.925 million)
LHP Genesis Cabrera ($2.5125 million)
3B Ernie Clement ($1.8 million)
RHP Alek Manoah ($1.75 million)
RHP Dillon Tate ($1.6 million)
RHP Zach Pop ($1.265 million)

Midseason, there was an uncomfortable conversation to be had about Swanson, but he posted a 2.55 ERA after returning in late July. That¡¯s the old Swanson. He¡¯s part of the solution for this bullpen, period.

Otherwise, the Blue Jays could choose to move on from Tate and Pop to target relievers with higher upside, but there aren¡¯t many major decisions to be made here. Romano is coming off a tough season and battled elbow problems, but given the cost of relief pitching in today¡¯s game, he¡¯s earned that money.

The tender deadline is Nov. 22.

Who might need to be added to the 40-man roster to avoid the Rule 5 Draft?
This list includes C Phil Clarke, UTIL Riley Tirotta, UTIL Adrian Pinto, INF Alex De Jesus, 1B/3B Damiano Palmegiani, OF Will Robertson, OF Yohendrick Pinango (Toronto¡¯s No. 21 prospect per MLB Pipeline), OF Dasan Brown (No. 23), OF Gabriel Martinez, RHP CJ Van Eyk, RHP Chad Dallas, LHP Trenton Wallace, RHP Andrew Bash, RHP Dahian Santos (No. 20), RHP Connor Cooke, RHP Hayden Juenger and RHP Eric Pardinho.

This group is more about protecting depth than star prospects, particularly as Toronto looks to build options at catcher and in its bullpen.

Will there be a crunch for roster spots?
There shouldn¡¯t be. The Blue Jays churned through what felt like 500 relievers on the waiver wire to end 2024. Continuing that roster churn should create enough room for any 40-man protections without causing the organization too much stress.

What do the Blue Jays need, and will they be active in free agency?
Bullpen, bullpen and bullpen. With what¡¯s left over, Toronto needs to find Vladdy some help in the lineup (likely a left fielder or a third baseman), and another catcher is needed to form a tandem with Kirk. Club president Mark Shapiro said he doesn¡¯t see payroll changing in any significant way, so the Blue Jays should be able to spend with the big boys.

Who might they be willing to trade?
Beyond the usual answer of ¡°prospects,¡± look to Toronto¡¯s infield depth. On their 40-man alone, you¡¯ll find Orelvis Martinez, Clement, Leo Jim¨¦nez, Addison Barger, Spencer Horwitz, Luis De Los Santos and Will Wagner. One might call that excess depth, which other organizations will be attracted to.