Cain had a .300/.363/.400 slash line this past season with the Kansas City Royals, notching 15 home runs and 26 stolen bases in 155 games.
The 31-year-old finished third in MVP voting in 2015.
Sportsnet’s No. 5-ranked free agent was extended a qualifying offer by the Royals on Nov. 6, and would therefore cost the Blue Jays their 2018 second-round draft pick as well as $500,000 of their international signing bonus spending limit, should he join with the team.
His 20.5 wins above replacement since 2014 trails only four outfielders: Giancarlo Stanton, Bryce Harper, Andrew McCutchen and Mike Trout.
The New York Mets were also mentioned by Crasnick to have “reached out on” the centre-fielder.