Big news:

Toronto formally announced the deal early Thursday afternoon:

The Blue Jays’ chances for a postseason berth seem to skyrocket with the acquisition of Price. In adding Troy Tulowitzki, Toronto already ensured the club will continue scoring tons of runs. Now, the Blue Jays will do a much better job of preventing them.

Price has been consistently excellent since his first full big-league season in 2010. A five-time All-Star and the 2014 Major League leader in innings pitched, the lefty gives the Blue Jays a legit ace they can feel good matching up against anybody in a Wild Card game or a postseason Game 1.

Daniel Norris (USA TODAY Sports Images)

Price joins a team with good defensive players all over the field, in a division he knows well. There’s nothing to suggest Price won’t pitch well in Toronto in the last couple of months before he inevitably signs a megadeal in free-agency this offseason.

Meanwhile, Tigers GM Dave Dombrowski — sneakily one of the game’s best traders — scores a solid haul of three lefty pitchers, two of whom already near big-league ready. Daniel Norris has struggled a bit in 2015, but entered the year one of the game’s best-regarded pitching prospects thanks to an excellent 2014 campaign that saw him pitch at every level from Class A Advanced to the Majors. Matt Boyd was hit hard in a two-start big league stint, but owns a 1.68 ERA with outstanding rate stats in 112 1/3 innings across Class AA and AAA action in 2015.

Anything can always happen in baseball, but right now the deal looks good on both sides. The Tigers take a big step toward retooling by adding two guys who could wind up mainstays in their rotation by 2016, at the cost of only two months’ worth of David Price in a lost season and the compensation pick he’d bring back in free agency. The Blue Jays get David Price and a much better shot at the postseason. It adds up.