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Ryan Madson declines $11M mutual option for 2013

Oct 31, 2012, 9:48 PM EDT

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The Reds wouldn’t have picked it up anyway, so right-hander Ryan Madson beat the team to the punch on Wednesday night and declined his half of an $11 million mutual option for the 2013 season.

This according to Jon Heyman of CBS Sports.

Madson gets a hefty $2.5 million buyout and will officially become a free agent this Saturday.

The 32-year-old missed the entire 2012 season following Tommy John reconstructive elbow surgery, but he began throwing recently and is hoping to be completely recovered by the start of spring training.

Madson registered a 2.37 ERA, 1.15 WHIP and 62/16 K/BB ratio across 60 2/3 innings for the Phillies in 2011 while converting 32-of-34 save chances. He boasts a 2.89 ERA in 329-plus innings since the start of 2007.

The Reds have interest in re-signing him, though they probably won’t offer him the opportunity to close.

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