"We're just so close to contention," Blue Jays general manager Alex Anthopoulos said. "It's not just about one season. This allows us to put what we feel is a contending team together for an extended run, for a three-to-five-year period."
Dickey needed to pass a physical before the teams announced the deal. He became the fourth pitcher to win the Cy Young and be traded before the next season, joining David Cone, Pedro Martinez and Roger Clemens.
Alderson said the Mets' preference going into the offseason was to re-sign Dickey. But as the winter meetings approached in early December, Alderson said Dickey's value "in a possible trade was also sky-rocketing. At some point, those lines crossed."
Several teams made runs at a deal for Dickey, with Texas and the Los Angeles Angels among those in the mix. Alderson said while some clubs popped in and out of trade talks, Toronto's interest remained steady.
Alderson said the Mets didn't completely decide to trade Dickey until they saw the final package that Toronto offered.
"This was a complicated deal," Alderson said.
The Blue Jays have missed the playoffs since winning their second straight World Series crown in 1993, and have boldly moved to reshape a team that went 73-89 last season in the rugged AL East.
Last month, they acquired a high-priced trio — Johnson and Buehrle on the mound, Reyes at shortstop — in a 12-player trade with the Miami Marlins.
Toronto later signed Cabrera, an All-Star outfielder with San Francisco whose season ended when he was suspended 50 games for a positive testosterone test.
Dickey was 20-6 with a 2.73 ERA last season, capping his rapid rise from the majors' scrap heap to an ace pitcher. He did it by perfecting a way to throw his floater faster than previous knuckleballers, and tossing it with exceptional control.