Yup, that would be 5.2 + 3.0. Romero could probably be talked into restructuring his contract. Thole can be traded if Kratz or Navarro can handle the knuckleball (1.25M)
Say for Romero something like:
1. 5 year deal at 1M / year with 2M bonus if he's on the MLB roster for 50 days or 5M for 100+ days. (not 100% sure if this is allowed or not now)
2. Signing bonus of 2M / year over 10 years, starting in 2016.
3. An opt out (or retirement) claus exercisable at the conclusion of any year, but doing so reduces the remaining signing bonus to 1.5M / year.
4. If another team claims him off waivers, the signing bonus is converted into salary for the remaining years of the contract (ie, the Jays aren't on the hook for it)
I know it's overly complicated, but just thinking out loud. Worse case for us, he gets 25M over the next 12 years rather than 16M over the next 2, but the hit per year would be small.