I guess it depends on how they project each player to age. Four years for players of that age is pretty risky. Not only that, but they'd be entering 2017 with five players making $100m, and then 2018 with those same five players making more than $100m (factoring what should be some type of record arbitration figure for Donaldson). Ownership would really have to go above and beyond what they've already committed to keep those guys and have enough resources to add talent around them. They'll need to replace the main pieces of the bullpen (Cecil/Storen), 2/5's of the rotation (Dickey/Chavez), among other things. If you have five players making $100m, and then Estrada making $14.5m, and then Happ making $13m, and so on, it's going to get complicated.
If the Jays had to re-sign one, I think they would prioritize Bautista (better player, in better shape, etc), but I think bringing back one is probably the best case.