The San Francisco Giants have declined Johnny Cueto's $22-million team option, according to MLB Network's Jon Heyman.
The NL West champs will instead pay the right-handed starter a $5-million buyout before he hits free agency.
Cueto, 35, made 22 appearances for the Giants this past season, including 21 starts. Over 114 2/3 innings, the righty authored a 4.08 ERA and 4.05 FIP. The 107-win club did not include Cueto on the postseason roster.
The two-time All-Star is at the end of a six-year, $130-million contract with San Francisco, where he posted a 3.81 ERA and 3.93 FIP over 614 innings.
A 14-season veteran that's played for three teams - including the Giants, Cincinnati Reds, and briefly with the Kansas City Royals - Cueto owns a career 3.45 ERA with a 135-97 win-loss record.
Cueto joins a free-agent class of starting pitchers led by Robbie Ray, Max Scherzer, and Marcus Stroman.
