This is likely the case, but why would Burnett not want to go to Toronto? I imagine they could pay him just as much, if not more, than any of the other suitors. Money is the single most important aspect of the re-signing process. I could see them ponying up something like 4 years/$48M, or something in that neighborhood. Burnett could be the missing piece to bring the Jays back into the playoffs, so that could be an enticing aspect with being hailed as the 'savior' of sorts. Who knows though, this is all idle speculation with no inside knowledge. It's certainly interesting to discuss.
As a Red Sox fan, it's fairly disconcerting to know the Jays are sitting on all that money, waiting to make the right move... This is even more of a reason why Theo can't afford to take on a Lowell type player that could prohibit us from acquiring somebody else at a later time.