Molina, 36, is a 12-year veteran who spent the past four-plus seasons in the AL East with the Yankees and Blue Jays as a backup. A defense-first catcher (redundant, I know), Molina is a career .241/.286/.344 hitter, although he posted a .281/.342/.415 line in 2011 with Toronto, albeit in 191 plate appearances.
The Rays went with a catching platoon in 2011, divvying up playing time pretty evenly between Kelly Shoppach and John Jaso. Shoppach, a free agent, will presumably sign elsewhere this offseason, according to Morosi, so Molina could perhaps take his place in that time-share, barring any other moves by Tampa Bay for a catcher.
Molina is a Type B free agent, so the Blue Jays will receive a supplemental first-round pick for losing him.