Beltre declines $10M option, will test free agency … BOSTON (AP) — Adrian Beltre has declined a $10 million player option that would have kept him with the Boston Red Sox next year.  —  The third baseman will get a $1 million buyout and becomes a free agent after just one season with the Red Sox.

Agent: Derek Jeter has huge value … NEW YORK — Derek Jeter's agent has fired back at the Yankees, saying that Jeter's value to the Yankees “cannot be overstated.”  —  Jeter's agent, Casey Close, made his statements Wednesday in response to the public posturing by the Yankees.

Ryne Sandberg won't be back with Chicago Cubs next season  —  CHICAGO — After being passed over for the Chicago Cubs managerial job, Hall of Famer Ryne Sandberg will not be back with the organization next season.  —  Sandberg, who managed the past four seasons in the Cubs' minor-league system …

Mets pick up Reyes' $11 million option for 2011  —  New GM Alderson to consider contract extension for shortstop  —  NEW YORK — In what amounted to little more than a formality, the Mets on Wednesday exercised their $11 million 2011 option on shortstop Jose Reyes' contract.

Texas not exercising Vlad option; he could be back  —  ARLINGTON, Texas—The Texas Rangers did not exercise a $9 million option for Vladimir Guerrero, yet the American League champions could bring the slugger back next season.  —  Guerrero gets a $1 million buyout under the agreement he signed before last season.

Offseason, free agency could deliver more surprises … Many of baseball's best young players are locked up early in their career nowadays, limiting free-agent lists to lesser lights in some recent years.  But at least this year's free-agent market still contains a trio of players …

Reds exercise options on Arroyo, Gomes; decline Cabrera, Harang  —  The Reds announced today that they exercised contract options for 2011 on Bronson Arroyo and Jonny Gomes, and did not exercise the options for Orlando Cabrera and Aaron Harang.  —  Right-hander Arroyo will get $11 million next season.

Aramis Ramirez will return to Cubs  —  Chicago Cubs third baseman Aramis Ramirez informed the team on Wednesday that he has declined the option in his contract to become a free agent and will return to the Cubs in 2011.  —  Ramirez, who will be playing in the final year of a five-year …

Rockies still mulling over Olivo's option  —  Club will not pick up option on former ace Francis  —  DENVER — Rockies general manager Dan O'Dowd said on Wednesday the club is still contemplating whether to pick up catcher Miguel Olivo's $2.5 million option for 2011, as well as what the club's plan is for the position.

Nationals decline option on Adam Kennedy  —  As expected, the Nationals have declined their 2011 option on second baseman Adam Kennedy, according to a team source.  Kennedy would have made $2 million if the Nationals exercised their option.  Instead, the Nationals will owe him $500,000, and Kennedy is now a free agent.

Dave Jauss and Bob Melvin, Come On Down!  —  “Bob Melvin and Dave Jauss will be in tomorrow as we begin the interview process with candidates for our new Manager,” the Mets said in a message on Twitter.  “We expect to have more information regarding the schedule of upcoming interviews with additional candidates later in the week.”

Oakland Athletics pick up Mark Ellis, Coco Crisp options, decline Eric Chavez's  —  OAKLAND, Calif. — The Athletics have exercised club options on second baseman Mark Ellis and outfielder Coco Crisp for next season, while declining an option on third baseman Eric Chavez.