Yankees decline Giambi, Pavano options (AP)

[ASFN Admin]

The New York Yankees declined their 2009 options on first baseman Jason Giambi and pitcher Carl Pavano on Tuesday, making the pair eligible for free agency. Giambi will receive a $5 million buyout rather than a $22 million salary next season, completing his $120 million, seven-year contract. Pavano gets a $1.95 million buyout instead of a $13 million salary, finishing his $39.95 million deal.

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