Hand would serve as the Angels' second major addition to the relief corps this offseason after they acquired right-hander Raisel Iglesias from the Cincinnati Reds in December.
New York was reportedly on the verge of signing Hand to a two-year deal, but an agreement wasn't reached.
The Blue Jays extended an offer to the 30-year-old reliever and could still be suitors after adding Kirby Yates and Tyler Chatwood to the bullpen in recent days, according to Jon Heyman of MLB Network.
Cleveland placed Hand on waivers in November. He went unclaimed and was ultimately bought out before becoming a free agent.
Hand posted a 2.78 ERA and 1.12 WHIP to go along with 13 strikeouts per nine innings and 58 saves in 111 appearances with Cleveland. He led the major leagues with 16 saves in the abbreviated 2020 season.
The Boston Red Sox, Houston Astros, Los Angeles Dodgers, Philadelphia Phillies, and San Francisco Giants have also been linked to the left-hander at various points this offseason.