The Yankees declined their 2011 options for Kerry Wood, Lance Berkman and Nick Johnson and exercised their option on 2007 first rounder Andrew Brackman. It cost the Yankees $2MM to buy out Berkman's $15MM option and $250K to buy out Johnson's $5.5MM option.
Wood, 33, posted a 0.69 ERA with 10.7 K/9 in 24 regular season appearances for the Yankees, and was outstanding in the playoffs. It would have cost the Yankees $11MM to exercise the righty's 2011 option, so turning it down was presumably easy for GM Brian Cashman and the rest of the team's front office.
Berkman, 34, batted just .255/.358/.349 after the Yankees acquired him from the Astros in a July trade. Johnson performed worse than that in his 98 plate appearances. The 32-year-old posted a .167/.388/.306 line in his return to the Bronx. Like Berkman, he reached base without providing any pop.
Picking up Brackman's option was a formality. The 24-year-old posted a 3.90 ERA with 8.1 K/9 and 2.5 BB/9 in the minors last year, reaching Double-A for the first time, so the Yankees weren't about to let him go.