Miami received infielders Yunel Escobar and Adeiny Hechavarria, pitchers Henderson Alvarez, Anthony DeSclafani and Justin Nicolino, catcher Jeff Mathis and outfielder Jake Marisnick under the deal, which was agreed to last week and completed Monday. The Marlins also are sending Toronto cash.
The trade was finalized after baseball commissioner Bud Selig decided not to block it.
"This transaction, involving established major leaguers and highly regarded young players and prospects, represents the exercise of plausible baseball judgment on the part of both clubs (and) does not violate any express rule of Major League Baseball and does not otherwise warrant the exercise of any of my powers to prevent its completion," Selig said in a statement. "It is, of course, up to the clubs involved to make the case to their respective fans that this transaction makes sense and enhances the competitive position of each, now or in the future."
The players traded by the Marlins have combined guaranteed salaries of $163.75 million through 2018, including $96 million due Reyes.
The net coming off the Marlins' books is $154 million, which does not account for the cash involved in the trade.
Since flopping during the first half of their first season at their new ballpark, the Marlins also have traded former NL batting champion Hanley Ramirez, second baseman Omar Infante, right-hander Anibal Sanchez and closer Heath Bell.
The Marlins have been criticized for jettisoning veterans after moving into a ballpark largely funded by public money.
"I am sensitive to the concerns of the fans of Miami regarding this trade, and I understand the reactions I have heard," Selig said. "Baseball is a social institution with important social responsibilities and I fully understand that the Miami community has done its part to put the Marlins into a position to succeed with beautiful new Marlins Park. Going forward, I will continue to monitor this situation with the expectation that the Marlins will take into account the sentiments of their fans, who deserve the best efforts and considered judgment of their club. I have received assurances from the ownership of the Marlins that they share these beliefs and are fully committed to build a long-term winning team that their fans can be proud of."
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