The Tigers waive a $30 million option on the retired Cabrera

Detroit Tigers decline $30 million option for Miguel Cabrera, who will be a free agent but is already on the verge of retirement

DETROIT — The Detroit Tigers rejected a $30 million contract extension offer for retired Venezuelan star Miguel Cabrera on Friday.

By declining the option, the Tigers will pay an $8 million buyout clause, completing a $292 million, 10-year contract.

Half of the final installment payment will be deferred without interest.

The Venezuelan, a twelve-time All-Star selection and four-time batting champion, was a two-time American League Most Valuable Player. In 2012 he became the first winner of the Triple Batting Crown since Carl Yastrzemski in 1967 with the Boston Red Sox.

Cabrera, 40, finished with a .306 batting average, 511 home runs and 1,881 RBIs in 21 seasons, playing for the Miami Marlins for five years before finishing his career with the Tigers. This year, primarily as a designated hitter, he had a .257 average with four home runs and 34 RBIs.