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Aramis Ramirez exercises $14.6 million option for 2011

Nov 3, 2010, 4:45 PM EDT

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For a brief moment Aramis Ramirez dropped some hints about possibly declining his $14.6 million player option for 2011, but presumably his agent (or really anyone with a functional brain) took him aside and said something like, “Uh, you just had your worst season since 2002, maybe take the money.”

Ramirez made it official today, exercising the $14.6 million option for 2011 while also forcing the Cubs to either pay him $16 million or a $2 million buyout in 2012. In other words, by exercising his option Ramirez guarantees himself another $16.6 million and also delays free agency by a year to potentially recoup some of the value he’s lost.

He’s obviously never going to get another contract like the five-year, $75 million deal the Cubs gave him in November of 2006, but if Ramirez returns to his pre-2010 levels he’s definitely capable of securing a multi-year deal for a ton of money next winter. In his first six full seasons in Chicago he hit .303/.368/.551 with an average of 35 homers and 115 RBIs per 150 games, and after a horrendous first half this year he quietly hit .276/.321/.526 with 15 homers and 51 RBIs in the second half.

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