Dodgers decline $14 million option on Chad Billingsley’s contract

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The Dodgers have declined the $14 million option for the 2015 season on Chad Billingsley’s contract, Dylan Hernandez of the Los Angeles Times reports. The Dodgers instead will buy out that final year at $3 million, making Billingsley a free agent.

Billingsley, 30, missed all of the 2014 season and nearly all of the 2013 season after undergoing Tommy John surgery on his right elbow. The right-hander suffered a partial tear of his flexor tendon back in June which required yet more surgery and ended any chance of a late-season comeback.

Billingsley will draw some interest as a buy-low candidate, but he’ll have to settle for significantly less money than he made during his three-year, $35 million deal with the Dodgers. During the 2012 season, the last in which he was mostly healthy, he finished with a 3.55 ERA and a 128/45 K/BB ratio in 149 2/3 innings, so he still may be able to recapture his prior form.