Yanks Decline Options on Two

With the first round of General Manager meetings in full swing, Brian Cashman and company declined to pick up the team options on both Jason Giambi and Carl Pavano's contracts.

Giambi will receive $5 million for the buyout and Pavano cashes in another $1.95 million. This, obviously, isn't the first time the Yankees have given Pavano money for doing absolutely nothing.

The moves free up some cash for the Yankees, as the two spots held by Giambi and Pavano free up close to $28 million dollars.

Some sources think that Giambi may return to Oakland, as reported by ESPN:

In a sign that Giambi may want to return to the Athletics, Oakland announced Tuesday that Bob Alejo will become its director of strength and conditioning. Alejo was Oakland's strength and conditioning coach from 1993-2001 and followed Giambi to the Yankees, working for Giambi personally and for the team during some years.