Phillies offseason news: Placido Polanco's 2013 option declined

The Philadelphia Phillies announced on Monday that the team would not be exercising Placido Polanco's contract option for 2013, making him a free agent. Polanco's option would have cost the team $5.5 million, and instead they'll part ways with a contract buyout of $1 million.

The decision to not bring Polanco back was likely an easy one for general manager Ruben Amaro Jr. Polanco recently turned 37 years old and had the worst offensive season of his career, batting .257/.302/.327 while battling injuries throughout the year. He appeared in just 90 games and hit the disabled list twice.

Look for Polanco to either retire or accept a bench role with a team expected to be in contention for a championship next season. It's highly unlikely any club would sign him to a multiyear deal that would guarantee a starting spot.

The Phillies could go a couple of ways at third base for next year and beyond. Kevin Frandsen impressed in the second half of the year, although many wonder if he could sustain that level of production over the course of a 162-game season. Philadelphia could also turn to the free agent or trade markets to find their next third baseman.