Toronto announced the moves before Wednesday night's game against Tampa Bay.
Ryan has struggled this season, going 1-1 with a 6.53 ERA in 25 relief appearances. The left-hander allowed 22 hits, including five homers, and 17 walks over 20 2/3 innings.
Downs had been sidelined by a left big toe injury.
B.J. Ryan has to be one of the worst contracts of recent memory. I'm sure some team will pick him up, left-handed pitching always is a hot commodity, and I'll guarantee some pitching coach out there believes they can correct Ryan's troubles.
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