A’s options: Stephen Drew declined, Grant Balfour exercised

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Oakland has exercised its 2013 option on Grant Balfour, bringing the right-hander back for $4.5 million after he emerged as the team’s closer this season, but the A’s have declined their half of Stephen Drew’s mutual option for $10 million.

That makes Drew a free agent, although it’s possible the A’s could try to re-sign him in what is a pretty weak year for available shortstops. Drew hit .250 with five homers and a .707 OPS in 39 games for the A’s after struggling for the Diamondbacks. He gets a $1.35 million buyout.

Balfour had never saved more than four games in a season previously, but emerged as the A’s closer at age 34 and converted 24 saves with a 2.53 ERA in 75 innings. Combined during the past five seasons Balfour has a 2.78 ERA in 318 innings, striking out 9.6 batters per nine frames while holding opponents to a .191 batting average.

Padres sign Jordan Lyles

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The Padres announced on Sunday that the club signed pitcher Jordan Lyles to a one-year major league contract with a club option for 2019. According to Jon Heyman of FanRag Sports, Lyles will earn $750,000 in 2018. Pitcher Travis Wood was designated for assignment to create room on the 40-man roster for Lyles.

Lyles, 27, had miserable results between the Rockies and Padres last season, compiling an aggregate 7.75 ERA with a 55/22 K/BB ratio over 69 2/3 innings. While he specifically gave up 24 earned runs in 23 innings across five starts with the Padres, it was a small sample. A full season at the pitcher-friendly Petco Park, as opposed to Colorado’s Coors Field, might help revitalize his career.

Wood, 30, went to the Padres at the non-waiver trade deadline from the Royals this past season. Overall, the lefty posted an aggregate 6.80 ERA with a 65/45 K/BB ratio in 94 innings. He’ll earn $6.5 million this season and has an $8 million mutual option with a $1 million buyout for 2019. So, the Padres are just eating $7.5 million minus the league minimum, assuming Wood latches on elsewhere.