Players must be on a team's roster before Sept. 1 in order to be eligible for the postseason.
Toronto (60-72) has long been out of contention, but it could now make an impact in the playoff race if it moves its veteran players.
Morales is having yet another solid season, hitting .261/.342/.480 with 21 home runs, 14 doubles and 53 RBI in 109 games. The switch-hitter has been on an absolute tear recently, hitting .459 with eight home runs and 15 RBI in the last 14 days.
He recently set a Blue Jays franchise record by going deep in seven consecutive games:
That streak came to an end on Monday.
Morales could bring pop to a contender, although he may be more of a platoon player. He is hitting .287 with 18 home runs against right-handers this season, while he is a .209 hitter with just three dingers against southpaws.
The 35-year-old is best suited for the American League at this point in his career. While he played in the outfield early in his career, he has been mainly limited to designated hitter in recent years. He has made occasional appearances at first and third this year.
Morales is making $11 million this season and is owed $12 million next year, per Spotrac.
Estrada, meanwhile, has seen his numbers rise in each passing season in Toronto. Although he posted a solid 3.13 ERA in 34 appearances in 2015 and was named an All-Star the following year, he is 7-10 with a 5.18 ERA and a 1.367 WHIP in 23 starts this season.
The 35-year-old may be in need of a change of scenery, as he is 3-6 with a 5.49 ERA, a .274 average against and 15 home runs allowed in 12 starts (60.2 innings) at the Rogers Centre in 2018.
Estrada is making $13 million this season, per Spotrac, and is set to be a free agent this winter. Not only is he struggling and making a sizable amount of money, but he has also been bothered by a back injury recently.