Meanwhile, the Blue Jays declined a $3 million option for Maicer Izturis, paying a $1 million buyout instead.
Bautista and Encarnacion rank among the game’s top right-handed power hitters, so exercising options at below-market rates was an easy call. Bautista hit 40 home runs with a .913 OPS during the regular season before hitting four postseason homers, including a dramatic game-winning homer in Game 5 of the ALDS. Encarnacion also finished strong on his way to a 39-homer season with a .929 OPS.
Both sluggers are on track to hit free agency following the 2016 season unless they sign extensions within the next year.
Dickey has been solid if not spectacular in three seasons with the Blue Jays. The knuckleballer posted a 3.91 ERA with 126 strikeouts in 214.1 innings this season before making two playoff starts. His finish was particularly strong with a 2.78 ERA over the course of his last 16 starts.
Next up for the Blue Jays will be determining whether to make free agent Marco Estrada a qualifying offer. The $15.8 million offers are due by Friday at 5 pm ET.