It looks like the payroll will be around $90 million next year, which gives the Jays about $22 million to work with. With the Jays just having a few days left before their free agents are available to other teams it sounds like the Jays won't be re-signing any of them prior to the start of free agency. If that's the case I'll be shocked to see either Speier or Lilly back in a Blue Jay uniform. I expect Speier to end up with a contract in the 4 year, $20 million range and Lilly to be in the 5 year, $45 million range. I don't think the Jays would come close to matching either offer.
In Blair's blog he discusses the Wells situation. In the event that a trade becomes a necessity Blair suggested that you give the trading team a window to sign Wells to a long term deal. Makes sense - you're going to get more in return for a player in that scenario. For what it's worth Peter Gammons spectulated that Wells would be one player traded this offseason. I'm probably in the minority, but I don't like the Jays bringing Wells back for just next year. I think either an extension needs to be signed or a trade needs to be made. Getting a couple draft picks in the 2008 draft (outside of the top 15 picks) that will contribute starting in 2011 at the earliest doesn't do much for me. I don't think the Jays chances of making the playoffs with or without Wells is that dramatically different (this assumes that there's major league ready players coming back in return).
And if you want some more Blue Jay talk there's an article at SI.com looking at what the Jays can learn from the Cardinals, although I'm not sure there was an answer besides 'spend money wisely'. No kidding. But nevertheless, it's worth reading. Apparently the Jays are looking at Randy Wolf as a possibility (of course with the standard 'if the price is right' caveat).