The Sox have decided not to exercise their option on Keith Foulke for the 2007 season. If the team had done so, they would have owed the relief pitcher $7.5 million.
Now, the clock starts ticking for Foulke, who has 48 hours to decide if he wants to exercise his player option for next season. That would pay him $3.75 million to pitch for the Sox.
By not excersing their option, the Sox already owe Foulke a $1.5 million buyout. That means if he decides to exercise his option, he would get that $1.5 million plus the $3.75 million for 2007.
“The team option is not going to be exercised, [we’re doing it] one day early,” Theo Epstein said today. “Keith has until Friday to make a decision on the player option. I’ve had some discussion with his agent but obviously it’s a private matter.”
Foulke, the Sox closer in their World Series season of 2004, was hampered by injuries to both knees all during the last two seasons.