Bumgarner rejected his qualifying offer from the Giants on Thursday, making him a free agent, Jeff Passan of ESPN.com reports.

Even though Bumgarner's production has declined slightly since his prime, he is still expected to receive a sizeable contract in free agency. The Giants will now be able to receive draft-pick compensation should he sign elsewhere. The 30-year-old recorded a 1.13 WHIP with a 203:43 K:BB over 34 starts last season.

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