Report: Red Sox’s Lucas Giolito Declines Option, Enters Free Agency

As expected, the Boston Red Sox watched some prominent members of the 2025 club hit the open market on Monday.

Alex Bregman opted out of his final two years to enter free agency. Lucas Giolito will reportedly join him.

Giolito declined the player side of his mutual option, according to the Boston Globe’s Alex Speier. Boston and the starting pitcher both would have needed to agree to exercise the $19 million option for 2026.

Boston signed Giolito to a two-year, $38.5 million deal after two erratic seasons. He had made at least 29 starts in each of the last five full seasons (excluding 2020) before missing all of 2024 when he tore his UCL that spring.

Giolito successfully returned to register a 3.41 ERA in 145 innings this year. His strikeout percentage dipped to 19.6 percent, below his career 24.6 average, but the right-hander still delivered 14 quality starts in 26 turns.

The 31-year-old’s year ended a little earlier than anticipated, as he missed the postseason due to an elbow injury that’s not expected to affect his 2026 status. Giolito first exceeded the 140-inning threshold necessary to turn a $14 million club option into a higher mutual option with a $1.5 million buyout.

The Red Sox likely would have taken that club option, but they now face a different decision. The organization can extend a one-year, $22 million qualifying offer to Giolito.

Boston would receive draft-pick compensation if Giolito rejected a qualifying offer and signed elsewhere. The Red Sox have until Thursday at 5 p.m. ET to make the offer, and Nov. 18 is the deadline for players to accept.