Roy Oswalt wants a three-year contract

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Bill Ladson of MLB.com hears that Roy Oswalt is looking for a three-year contract. And after Bruce Chen, Chris Capuano and Aaron Harang have all received two-year deals this offseason, some team might be willing to go there.

Of course, the major concern with Oswalt is his degenerative back condition. While the 34-year-old right-hander had a respectable 3.69 ERA and 93/33 K/BB ratio over 139 innings this season, was he limited to just 23 starts and the velocity on his fastball (91.4 mph) was a career low.

Oswalt is a major risk on a multi-year contract, but teams like the Nationals, Red Sox or Yankees might be willing to take the gamble. The market has been pretty slow on him until this point, but things should clear up once C.J. Wilson and Mark Buehrle are off the board.

Twins will not pick up Glen Perkins’ 2018 option

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The Twins have informed reliever Glen Perkins they will not pick up his 2018 club option worth $6.5 million, MLB.com’s Rhett Bollinger reports. Instead, he will be paid $700,000 per his buyout clause.

Perkins, 34, has pitched a total of 7 2/3 innings over the last two seasons due to shoulder and biceps injuries. Bollinger adds that the two could come to terms on a minor league deal, but if they can’t reach an agreement, the lefty is likely to retire.

From 2011-15, Perkins emerged as one of the better relievers in baseball, making three All-Star teams. He compiled an aggregate 2.84 ERA with 340 strikeouts and 73 walks across 313 1/3 innings.