Oct 24, 2011, 4:16 PM EST
Instead of exercising his $16 million option the Phillies will give Oswalt a $2 million buyout and Lidge will get a $1.5 million buyout instead of a $12.5 million option.
In announcing the moves general manager Ruben Amaro Jr. said that the Phillies will talk to both pitchers about returning at lesser salaries.
Lidge was limited to just 19 innings because of injuries and his raw stuff has declined significantly, but he still posted a 1.93 ERA and 23 strikeouts (along with 13 walks). Oswalt also missed time with back problems, but was plenty effective when healthy with a 3.69 ERA and 93/33 K/BB ratio in 139 innings.
Lidge may have to settle for a one-year deal and an opportunity to perhaps fight for a closer job, but if Oswalt is committed to playing beyond 2012 he should be able to command a multi-year contract.
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