Rays release Grant Balfour, eat $7 million

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Predictably no teams were interested in claiming Grant Balfour and the remainder of his $7 million salary off waivers, so the Rays have released the 37-year-old right-hander after designating him for assignment.

Last offseason the Orioles backed out a two-year, $15 million deal with Balfour over concerns about the health of his arm and he eventually signed a two-year, $12 million deal with the Rays. Balfour had a lot of success in Tampa Bay previously, turning his career around from 2008-2010, but he struggled last year and looked even worse in six appearances this season.

At age 37 he’s likely finished as a late-inning bullpen option, because Balfour’s once-electric raw stuff is no longer good enough to make up for poor control, but he could latch on somewhere as a middle reliever now that the Rays are on the hook for his entire salary.