Breaking Down Cody Ponce’s $30 Million Deal with the Toronto Blue Jays

The Toronto Blue Jays made yet another move to bolster their rotation, inking reigning MVP-winner in the KBO in Cody Ponce to a three-year, $30 million deal last night.

Ponce pitched in parts of two seasons in MLB from 2020-21 and has spent the last few seasons pitching overseas in Japan, and most recently in Korea, in order to improve his pitching ability and to strive for a comeback to MLB.

This deal comes on the heels of Toronto signing starting pitcher Dylan Cease to likely serve as the team’s ace, giving him the largest free agent contract in franchise history ($210 million, seven years). It’s clear that the Blue Jays aren’t just going to sit back and watch their World Series appearance this season go to waste – they’re on the prowl looking for ways to improve.

Ponce brings an interesting player profile to the Jays, and it’s worth understanding a bit more about him and why Toronto might take a chance on him.

If you’re not familiar with Cody Ponce (which, understandably, not many people are), here’s some insight on why the Blue Jays shelled out $30 million to bring him in.

Reigning MVP

Cody Ponce won the MVP award in the KBO with the Hanwha Eagles by posting a 1.89 ERA over 180.2 innings with a 17-1 record. He also set the all-time single-season record for strikeouts in the KBO with 252, so it’s plain to see his prowess on the mound was incredible this year.

Ponce’s last two seasons prior to this one were a little rocky, notching an ERA above 4.00 in both 2023 and 2024 in Japan’s NPB and striking out less than one batter per inning.

While there is certainly a dialogue about the skill gap between MLB and the KBO, it’s quite frequent to see former big-leaguers take flyers to play internationally in these leagues to both break into new markets and bolster their odds at returning to North America to play in MLB.

Ponce’s performance actually bears similarities to another MLB pitcher who sought a career resurgence in the KBO and returned to MLB with a contract in hand – Erick Fedde. After posting a 5.81 ERA in 2022 with the Nationals, Fedde signed with the NC Dinos of the KBO and went 20-6 with a 2.00 ERA, 209 strikeouts, and took home the MVP trophy.

This performance earned Fedde a two-year, $15 million deal with the Chicago White Sox, and he threw 177.1 innings of 3.30 ERA ball for both the White Sox and the Cardinals in the first year of that deal. Fedde’s successful transition back to MLB could be an indication of how Ponce might perform in his return to the MLB, but only time will truly tell.

Blue Jays Have History With KBO

The Blue Jays actually have quite a history of signing players out of the KBO, especially in recent years. It began in 2020 when Toronto signed starting pitcher Hyun-jin Ryu to a four-year, $80 million deal after he led MLB in ERA (2.32) in 2019, and this move seems to have bolstered the relationship between the Blue Jays and the Korean market.

A few months ago, Toronto signed teenage pitcher Seojun Moon with international prospect pool money and, while he never got a chance to play in the KBO, was certainly headed on the path there. Last season, the Jays also took a flyer on Eric Lauer, who had been pitching in the KBO in 2024, and this signing definitely worked out better than both sides could’ve predicted.

So the Jays have a history of looking at the KBO and Korean talent, but what’s so special about Cody Ponce?

The last time Ponce was in MLB, his fastball averaged 93.2 MPH, but in 2025, it reportedly sits at 95 MPH and can reach 98 MPH with consistency. He also has a kick-change that he uses alongside his other breaking balls to fool hitters, and his strikeout rate this year shows just how effective this pitch mix has been.

It’s worth returning to Eric Lauer as a point of reference for Cody Ponce, as Lauer can offer advice and help to Ponce after fully making the transition back to MLB from the KBO to help him adjust his pitching style to best fit MLB competition.

While they’re fundamentally completely different pitchers, having multiple players who have enjoyed similar career paths to one another is a strength in and of itself.

Ponce also set the single-game strikeout record for the KBO with an 18-strikeout gem against the SSG Landers using his new pitch mix, and he currently slots in as Toronto’s fifth starter at the back end of their rotation – at least for now.

How Does Ponce Fit In?

Toronto’s starting rotation is stacked, to say the least. Their top five arms consist of Dylan Cease, Kevin Gausman, Trey Yesavage, Shane Bieber, and Cody Ponce, and they also have the aforementioned Eric Lauer and José Berríos under contract, who currently profile as long relievers for this team.

It has also been reported that the Blue Jays are now open to moving Berrios, although still owed $67 million, it may be easier said than done to find a taker unless they eat down the contract some.

Regardless, Ponce fits nicely in the latter half of the Jays’ rotation until he can prove himself worthy of a top-of-rotation job.

Cease, Gausman, and Bieber are all veterans of the game who command serious money and big-time innings, and Trey Yesavage had a first season that every pitcher dreams of having.

Some might be uncertain about this move as a solution for Toronto’s pitching issues, but it’s actually one of the smartest moves we might see this offseason.

Toronto has already spent the big bucks on one prominent starter in Dylan Cease ($210 million), and instead of chasing another top arm, they get Cody Ponce, who wasn’t on the radar of many fans prior to this signing on a $30 million budget.

Essentially, they’re paying Ponce the equivalent of one year of Dylan Cease’s contract for three years of his services. The corresponding moves for this signing are the decisions of what to do with Berríos and Lauer (mostly Berríos), as the former has never pitched out of the bullpen in his career.

If Cody Ponce can even be just a slightly-above-average pitcher this season and give the Jays a solid chance to win his starts, this contract is a win.

There are plenty of pitchers making much more money than Ponce that simply aren’t pitching as well as their teams were hoping for, so there shouldn’t be any doubt cast upon this deal just yet.

If he has a rocky start this year, then the doubting can begin, but as of right now, we’re still waiting to see him prove his stuff against MLB competition.

Ponce’s deal also leaves him as the sixth-highest paid pitcher on the team next season with a $10 million cap hit, so it’s not a massive contract that the Jays will have too much trouble moving on from if he doesn’t pan out the way they hope.

In reality, Toronto is not expecting Ponce to recreate his 2025 success from the KBO; they’re hoping he can translate his success from overseas to the MLB level to give them solid innings in their quest to return to the World Series.

Closing Thoughts

While the Cody Ponce signing likely came as a surprise to many, it’s not a signing that should be overlooked in the slightest.

Ponce set several league records in his one-year stint in the KBO and looks to bring this dominance to the MLB level, and even if only to a lower extent than he found last season, it’s still worth it to give him a shot.

This deal also shows the Jays’ hunger to make waves this offseason, as they’ve been the most active team by far this free agency. They had the world’s eyes watching them as they hunted for a World Series title in 2025, and they want to replicate this once again with some new additional pieces.

For Ponce, this deal is everything he’s been working towards ever since making the initial decision to play overseas, and he deserves every penny of this contract.

He’s going to be a name to watch this season, and it’ll be interesting to see how much success he can find at the Major League level after leaving for several seasons.