In Perez, the Reds land a hard-throwing right-hander with plenty of untapped potential. He was used as a reliever for one game in 2020 but pitched as a starter for most of 2019 at Double-A ball. Look for Cincinnati to give Perez a shot at sticking as a starter first and foremost.

The Blue Jays needed a roster spot after acquiring outfielder George Springer as a free agent earlier in the week. So, Perez became the odd man out and was shipped to Cincinnati in exchange for a future asset...which is not likely to amount to much in the end.

Keep an eye on Perez because he does have fantasy upside. He could be a solid late-round draft addition in most keeper formats. Non-keeper leaguers should take a wait-and-see approach with him (but also monitor his progress during spring training).