The Blue Jays have released B.J. Ryan, according to MLB.com's Jordan Bastian. The 33-year-old lefty signed a five year $47MM deal with the Jays before the 2006 season that was, at the time, the largest deal ever for a reliever. The contract expires after 2010, but the Jays still owe Ryan about $15MM.
Ryan dominated in 2006, striking out more than four times as many as he walked and allowing 30 fewer hits than innings pitched. However, he's been a major disappointment since missing 2007 with Tommy John surgery. He was effective last year, but has struggled in 2009, walking 7.4 batters per nine with a career-low strikeout rate and more hits allowed than innings pitched.