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Blue Jays' Reese McGuire

Blue Jays player Reese McGuire is breathing easier heading into the MLB's rebooted season ... the catcher just cut a plea deal with prosecutors in his public masturbation case, and received nothing more than a slap on the wrist.

A spokesperson for the State Attorney's Office in Pinellas County, Fla. tells TMZ Sports McGuire pleaded nolo contendre to a reduced 2nd degree misdemeanor charge of disorderly conduct on July 1.

In exchange, his punishment was nothing more than fines and court costs ... the spokesperson said.

It's a big deal for McGuire .