PHILADELPHIA (WPVI) -- The Philadelphia Phillies have declined pitcher Cliff Lee's $27.5 option for 2016.
They are instead paying him a $12.5-million buyout.
This makes the 37-year-old Lee a free agent.
The 2008 Cy Young Award winner missed all of 2015 after tearing a flexor tendon in spring training.
Lee started only 13 games in the 2014 season due to the elbow strain.
His record is 143-91 with a 3.52 ERA in 13 seasons.
ESPN contributed to this report.