Ryan Madson Declines Mutual Option

Ryan Madson has declined his half of a mutual option for 2013, reports Jon Heyman of CBSSports.com. The option was worth $11MM, and he'll instead receive a $2.5MM buyout.

Madson, 32, did not pitch at all in 2012 due to Tommy John surgery after signing a one-year, $8.5MM deal with the Reds last winter. From 2009-2011 he pitched to a 2.78 ERA with 9.6 K/9 and 2.4 BB/9, however. The Phillies have some interest in bringing Madson back for next year according to Heyman, but the right-hander will seek a job closing.

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