They didn't low ball. They just said they couldn't do that, I don't think the Blue Jays gave a number.
The report that came out he said "false" because he actually wanted another year at the same AAV.
Just wanted to let Boxy know that Steve Pearce is less valuable than Desmond Lindsay: http://thedynastyguru.com/2016/03/02/the-top-500-dynasty-league-players/