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The Red Sox have declined their option on left-hander Martín Pérez, per various reporters (including Alex Speier of the Boston Globe). If exercised, the option would’ve paid Pérez $6.85MM, as Chris Cotillo of MassLive breaks down (via Twitter). Instead, he’ll receive a $500K buyout and hit free agency. The 29-year-old becomes one of the younger starters on the market. Once viewed as a key long-term rotation piece in the Rangers’ organization, Pérez has seen his stock fall off in recent seasons. He continued to log unexciting production in 2020, pitching to a 4.50 ERA with subpar strikeout (17.6%) and walk (10.7%) rates. To his credit, Pérez did reliably take the ball for the Sox every fifth day, as he did with the Twins in 2019. The southpaw has never posted great strikeout-to-walk ratios and has seen his ground-ball rate fall off over the years, but he continues to induce soft contact. Pérez’s 86.3 MPH opponents’ average exit velocity this year ranked in the 85th percentile, per Statcast.