Red Sox keep DH David Ortiz; Giants decline option on Renteria

NEW YORK — The Boston Red Sox kept designated hitter David Ortiz by exercising a $12.5 million club option Thursday, and the San Francisco Giants declined a $9.5 million option on World Series MVP Edgar Renteria.

Teams had until midnight EDT to exercise options under the new rules agreed to by the commissioner's office and players' association in September. Under the fast-track timetable, free agents such as Cliff Lee, Carl Crawford and Jayson Werth can start negotiating with all teams this Sunday, the sixth day after the World Series.

Rather than exercise Miguel Olivo's option, Colorado traded the catcher to Toronto for a player to be named or cash. The Blue Jays had until midnight EDT to exercise the catcher's $2.5 million option or pay a $500,000 buyout.

Ortiz wanted a new multiyear contract, but the Red Sox didn't want to make a longer commitment to a player who turns 35 in two weeks. While he made his sixth AL All-Star team, he got off to his second straight slow start. Ortiz finished with a .270 average, 32 homers and 102 RBIs.

"I talked to him directly, and he told me directly that he was cool with it," Boston general manager Theo Epstein said. "I think, in the end, he realized that we weren't in a position to give him what he was looking for in a multiyear arrangement."

Epstein said it was unlikely a multiyear deal still could be worked out with Ortiz.

"We never say never," Epstein said. "Things could always come up that cause you to turn in a new direction, but I think at this point the feeling is that we've explored it. It didn't work out. Both sides, for a lot of reasons, were fine going to the one-year mechanism that was already built into the contract."

Renteria is uncertain whether to retire after his three-run homer off Lee on Monday gave the Giants a Series-winning 3-1 victory over Texas in Game 5. The 34-year-old, a five-time All-Star shortstop, was on the disabled list three times during the season. He hit .412 (7-for-17) with two homers and six RBIs in the Series after hitting three homers with 22 RBIs during the regular season. His option carries a $500,000 buyout.

Boston exercised its option on reliever Scott Atchison at $40,000 above the minimum, which will be $400,000 plus a cost of living adjustment. The Red Sox declined their $9.25 million option on infielder-outfielder Bill Hall, who gets a $500,000 buyout, and their $2.5 million option on infielder Felipe Lopez, who gets a $15,000 buyout.

Colorado declined a $7 million option on left-hander Jeff Francis, and Philadelphia turned down a $4.5 million option on left-hander J.C. Romero, who receives a $250,000 buyout.

Toronto decided to pay right-hander Kevin Gregg a $750,000 buyout, declining a $5.25 million option for next year and options for 2011 and 2012.

The Dodgers said outfielder Scott Podsednik declined his half of a $2 million mutual option the team had exercised a day earlier.