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.