John Smoltz, who struggled mightily in eight starts with the Red Sox before he was designated for assignment last Friday, has cleared waivers and refused an assignment to Triple A Pawtucket, according to a report by FoxSports.com's Ken Rosenthal.
The Red Sox must now either release or trade the 42-year-old righthander, who was 2-5 with an 8.32 ERA this season.
The Dodgers and Cardinals have expressed some interest in Smoltz, who spent the first 20 seasons of his career in Atlanta. But according to Rosenthal, any trade would require "a significant financial component" since Smoltz has some easily attained incentives in his contract.
Smoltz, 42, receives about $35,000 for each day he is on the active roster and other appearance-based bonuses. He also receives a $500,000 bonus if he is on the active roster and not the disabled list on the last day of the season and a $500,000 bonus if he is traded.
If Boston releases Smoltz, the Red Sox will be obligated to pay the remainder of his one-year, $5.5 million contract he signed in the offseason. . . . Smoltz's new team would not have to pay him any bonus money, as the bonuses are negated once a player is released.