7:21pm: The Blue Jays have officially announced the signing via press release.

1:14pm: Navarro's contract will pay him $3MM in 2014 and $5MM in 2015, reports Jon Heyman of CBS Sports (Twitter link).

9:02am: Navarro's contract is pending a physical and will guarantee him $8MM over two years, according to Rosenthal (on Twitter).

8:32am: The Blue Jays have reached an agreement with catcher Dioner Navarro on a two-year deal, according to Ken Rosenthal of FOX Sports (on Twitter). Navarro is a client of Melvin Roman's MDR Sports Management.

After hitting .207/.267/.311 from 2009-11, Navarro put himself back on the map with a respectable showing with the Reds in 2012, but his .755 OPS that season came in a sample of just 74 plate appearances. It wasn't until this past season with the Cubs that Navarro proved he can still hit at the Major League level in a big way. In 266 plate appearances with the Cubs, Navarro slashed .300/.365/.492 with 13 home runs.

Catcher was a clear area of need for the Blue Jays this offseason after J.P. Arencibia, Josh Thole, Mike Nickeas and Henry Blanco combined to bat .190/.235/.335 in 2013. No team received a lower batting average or on-base percentage from its group of catchers than Toronto in 2013.

Navarro will turn 30 in February, and his signing could cost Arencibia his job, as Rosenthal notes in a second tweet. Blue Jays GM Alex Anthopoulos recently said in a radio interview that Arencibia would not be with the club as a backup in 2014 (as chronicled by Sportsnet's Ben Nicholson-Smith). Navarro's two-year deal seems to indicate that he's in line for significant playing time, and the club would also like to use Thole to catch R.A. Dickey, says Rosenthal. As such, Arencibia, who projects to earn $2.1MM via arbitration this winter, could find himself on the move today, as tonight is the deadline to tender him a contract for the 2014 season.

Photo courtesy of USA Today Sports Images.