Melancon declined his half of the mutual option in his contract Friday, making him a free agent.

EDGE Analysis

Melancon could have elected to stick around for $5 million. Coming off a year in which he saved 39 games while posting a 2.23 ERA, however, there's a good chance he can make more than that on the open market, even in his age-37 season. Melancon continues to post strikeout rates far lower than most closers, whiffing a modest 22.3 percent of opposing batters last season, but as long as he lands in a situation where he's the clear closer this winter, he'll head into next season with plenty of fantasy value.