I went with that third option -- but think that if he did come to TO, options four and five would both come into play.

any money

In my experience, there are relatively few situations which cannot be handled by a large enough sum!  If you mean "Manny would demand such a large premium to play in Toronto that the club cannot possibly afford him (e.g. double what he would get paid anywhere else)", that may very well be right. 

I wanted another option as well. "I love Manny, but the Jays will not be good enough while he is still a dominant player to win anyway."

A team shouldn't pay a one skill player the kind of money that Bora$$ is talking about. Manny can't run the bases or even field his own position. If his hitting declines, he will have no value. I think the Jays are more than one hitter away, so the point should be mute. As a DH, Manny loses more value because it is harder to hit while sitting on the bench (just ask Tom Tango). The place the Jays could make up the most is if Lind and Snider are legitimate and Arencibia can take over as the starting catcher. A catcher that can hit (with adequate defence) is worth his weight in gold. I would be bullish on bounce backs by Rolen (a new stroke) and Overbay (completely healed hand). Also, I'm betting against a Giambi signing because of the roid issue which is why Zaun was not returning.