According to multiple reports late Sunday night, the Cubs exercised their part of the mutual option for Aramis Ramirez for 2012. As expected, Ramirez has reportedly informed the Cubs he will decline his part of the option and test free agency. Ramirez has until Tuesday night to make his decision official.
With the move, the Cubs will not be on the hook for the $2 million buyout and will receive draft pick compensation if Ramirez signs with another team. Early Elias Rankings have Ramirez listed as a Type-B free agent, which would net the Cubs a supplemental round pick (between the first and second round) of the 2012 draft.
Ramirez re-signed with the Cubs in November of 2006 after opting out of his first contract with the Cubs. Ramirez inked a five-year deal at the time worth $75 million that included a $16 million mutual option for 2012 … and was the first of the big contracts handed out by Jim Hendry over one calendar year (November 2006 – November 2007).
The Cubs are on Ramirez’s short-list of teams but reportedly Ramirez is looking for a three to four year deal worth around $15 million per year. And according to the Tribune, it is doubtful he will return to the Cubs.
The off-season news picked up Sunday … click on the links below for the updates.
- Weekend Update … The Second Week of the Epstein Era
- Quade to Meet with Epstein and Hoyer Again this Week
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