Madson declines mutual option

The Reds have announced that pitcher Ryan Madson has declined his half of his mutual option for 2013. The option was worth $11 million, but he will instead earn a $2.5 million buyout. 

Madson did not throw a single pitch in 2012 due to Tommy John surgery. He signed a one year deal with the Reds last winter. From 2009-2011 he posted a combined 2.78 ERA, and will apparently seek a job closing somewhere. 

Analysis: I don't understand why Madson would opt out of his side of the deal, considering that there is no way he is getting over $11 million on the open market. Maybe he has a particular team in mind, and I heard that a possible reunion with Philly is possible. Madson is still a great bullpen piece to have, and I would be interested in signing him.