According to Alex Speier of the Boston Globe, the Red Sox have declined the club option of Martin Perez.

The lefty posted a 4.74 ERA and a 4.82 FIP through 36 outings (22 starts) after being re-signed to a one-year, $5M deal last offseason. The lefty’s buyout is worth $500K. The 30-year-old was moved to the bullpen after mid-season struggles.

Perez, the 10-year veteran, could return to Boston for a third year on a much cheaper deal and compete for a roster spot in the bullpen in March.

The Sox also declined Garrett Richards’ club option.

(Photo of Martin Perez by Maddie Meyer/Getty Images)

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