Yanks Decline Options On Giambi, Pavano

According to Ed Price of the Newark Star-Ledger, the Yankees declined their options on Jason Giambi and Carl Pavano as expected.

With Giambi, the Yanks chose his $5MM buyout over his $22MM option.  For Pavano, they chose a $1.95MM buyout over a $13MM option.  Either player could re-sign for less, though it’s not likely.

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