I heard a rumor on TSN that the Jays are going to keep both Bautista and Estrada and sign them both to contract extensions.
I would be on board for resigning both.
So, trying to get this thread back on track . . .
Estrada back on a short deal is worth considering - the Jays' defence has really let their staff down this year, and Estrada's number have taken a big hit because of that. Shore up the D next season, and he's probably back to being a valuable starter.
Bautista, however . . . based on the past two seasons, it's time to let him walk. He's become part of the defensive problem, as his mobility has become a major issue. Unless he moves to 1B, he's not someone you want out in the field on a day-to-day basis. His bat speed has also dropped significantly - to the point that he's an average to below average contributor overall. He still has some power left, but, when he doesn't go yard, he doesn't produce any offence of note. At his age, things are highly unlikely to improve, either.