We are in agreement on this. I have never denied the rumours that there was an Ohtani and non-Ohtani budget, and the Ohtani budget was much higher.
I don't think just Espinal and Richards out is enough AAV subtracted. Jays are currently roughly 12.2M under the 2nd threshold (per Spotrac). If they cleared only Espinal+Richards AAVs that would put them at only 17.1M under the 2nd threshold. Assuming Chapman and Bellinger both get roughly 20M AAV, your scenario here would put the Jays roughly 2.9M over the 2nd threshold.
Last year's final lux tax payroll was roughly 5M above the 2nd threshold and the opening day lux tax payroll was just under the 2nd threshold. So basically they used 5M of wiggle room in season (this is if you trust Spotrac). If you trust Fangraphs payroll numbers, the Jays never even spent into the 2nd threshold last season, and by extension have never in franchise history
Highest estimate of what the Jays luxury tax bill may have been last season was roughly 5.5M (my own math also matched up with Spotrac's 5.5M number over Fangraphs so I've been using their payroll numbers). Since the Jays are a repeat tax team this season instead of last season when they were a 1st year tax team, every dollar spent over the base tax threshold (237M in 2024) is taxed 30% instead of 20% last year. There is also a 12% surcharge for every dollar spent over the 2nd threshold (257M in 2024).
So using your Espinal+Richards out and Chapman or Bellinger in scenario, the Jays tax bill from the base threshold overages alone would be 6M (already higher than last season's tax bill). When factoring in the 2.9M in 2nd threshold overages, they would have a tax bill of roughly 1.2M on those overages alone. Total 2024 tax bill for your hypothetical scenario is roughly 7.2M, significantly higher than last season's final lux tax bill and this would be opening day before any in season wiggle room is used. Plus the thresholds increased by 4M this year so they're already spending more money than last season to begin with if they simply spend to the base threshold limit.
Do you really think that hypothetical is realistic, involving a projected tax bill higher than last season's before opening day, when we don't even know for sure if the Jays have EVER spent into the 2nd threshold in their franchise's history? I think a lot of posters here are severely underestimating the stinginess of Ed Rogers, especially considering the failure of last season's team to meet the organization's high internal expectations.
With all of that being said, if it's Garcia instead of Richards out or all 3 of them out, that is way closer to realistic.