Martin Perez: Declines mutual option

Perez (shoulder) declined his $10 million mutual option for 2026 on Tuesday and became a free agent.

Perez will receive a $1.5 million buyout after declining his option. Elbow and shoulder injuries limited the left-hander to just 11 appearances (10 starts) in 2025, and he finished the season with a 3.54 ERA and 1.11 WHIP through 56 innings. Although he performed well when healthy, health concerns and the fact that he's due to turn 35 in April will likely keep his cost down in free agency.