The Toronto Blue Jays have traded third baseman Josh Donaldson to the Cleveland Indians in exchange for a player to be named later, according to a team announcement.

Toronto will also send $2.7 million to Cleveland in the deal, a source told The Athletic's Ken Rosenthal.

The player to be named later is expected to have value, according to Ben Nicholson-Smith of Sportsnet.

"He's got a big heart and he's a special baseball player," Blue Jays manager John Gibbons said of Donaldson, according to Rob Longley of the Toronto Sun. "That's a good spot for him."

The three-time All-Star won't be eligible to receive a qualifying offer because of the trade, which means Donaldson will become an unrestricted free agent at the end of the season with no draft-pick compensation attached to him.

Donaldson landing in Cleveland reunites him with former Blue Jays teammate Edwin Encarnacion, who signed with the Indians before the 2017 campaign began.

"If that happens, he's a great player man," Encarnacion said after being asked about the trade, according to MLB.com's Gregor Chisholm. "He's a great player. We'll see ... I think if that happens everybody is going to be excited ... He's a great guy, he's a great guy."

It might not be long before Donaldson's former club sees him in his new uniform, as the Indians begin a four-game set against the Blue Jays in Toronto on Thursday.

The 32-year-old was on a rehab assignment with Toronto's Class-A affiliate in Dunedin before the trade. If he's healthy, Donaldson adds to an already-deep Indians lineup led by Francisco Lindor, Michael Brantley, Jose Ramirez, and Encarnacion.

Indians president of baseball operations Chris Antonetti said Donaldson will play third base when he returns to the majors, according to The Athletic's Zack Meisel. Current third baseman Jose Ramirez and second baseman Jason Kipnis will be chatted with on Saturday about where the team intends to play them, Meisel added.

Donaldson joined the Blue Jays after a blockbuster deal with the Oakland Athletics in November 2014 and went on to become a mainstay in Toronto.

During his tenure with the organization, he recorded 116 home runs and 316 RBIs while posting a .931 OPS in 462 games.

From 2015 to 2017, Donaldson was worth 21.2 fWAR, which was second to only Mike Trout. His impressive 2015 season earned him the second MVP Award in Blue Jays franchise history. He took home the award following a campaign with 41 home runs, 123 RBIs, 122 runs, and a 151 OPS+.

Donaldson has been limited to 36 games this season because of injuries, hitting .234/.333/.423 with five home runs and 16 RBIs.

As many as six contenders, including the Indians, were showing late interest in Donaldson before Friday's deadline to add playoff-eligible players via trade.