Cole opted out of his contract with the Yankees on Saturday, Kiley McDaniel of ESPN.com reports.

The Yankees have the opportunity to void Cole's opt-out decision by adding an extra year and $36 million to his contract, which would result in him being owed $180 million through 2029. The 34-year-old posted a 3.41 ERA and 1.13 WHIP across 95 innings this season after missing the first couple months due to an elbow injury. There is no guarantee that New York will want to keep him around for such a hefty price.

Straw cleared waivers Friday and was sent outright to Triple-A Columbus.

Straw spent the vast majority of the season with Columbus, slashing .240/.321/.329 with 29 steals in 30 attempts across 434 plate appearances. Now that the 30-year-old outfielder no longer has a spot on the 40-man roster, it's unlikely he makes a significant contribution to the Guardians in 2025 -- barring a drastic turnaround at the plate.

The Yankees exercised Weaver's $2.5 million club option for 2025 on Friday.

In his first full season with the Yankees, Weaver turned in a 2.89 ERA and 0.93 WHIP across 84 innings -- a stark contrast from the 5.85 ERA and 1.51 WHIP he had accumulated over the previous four years. There's a chance he begins 2025 as New York's closer after moving into the role toward the end of the season.

The Rays exercised Lowe's $10 million club option for 2025 on Friday, Marc Topkin of the Tampa Bay Times reports.

It's possible the Rays will look to trade Lowe as his salary escalates, but picking up the option was a fairly easy call. They also have an $11.5 million club option for 2026. Lowe slashed .244/.311/.473 with 21 home runs over 425 plate appearances for Tampa Bay this season.

The Athletics outrighted Nevin to Triple-A Las Vegas on Friday, Martin Gallegos of MLB.com reports.

It's not the first time Nevin has been outrighted, so he can elect free agency if he wants. The 27-year-old has a career .204/.299/.315 slash line over parts of four major-league seasons.

The Athletics outrighted Muller to Triple-A Las Vegas on Friday, Martin Gallegos of MLB.com reports.

Because he's been outrighted before, Muller has the option to elect free agency. The left-hander made 21 appearances for the A's in 2024 in relief, posting a 4.01 ERA and 36:10 K:BB across 49.1 frames.

The Angels claimed Noda off waivers from the Athletics on Friday.

Noda showed some promise in 2023 after the A's plucked him in the Rule 5 Draft, slashing .229/.364/.406 with 16 homers in 128 contests. He couldn't repeat even that level of production in 2024 however, posting just a .465 OPS in 36 games with Oakland while spending most of the year in the minors. Noda will turn 29 in March and could get a chance to compete for playing time at first base, the corner outfield spots and designated hitter.

Stratton (forearm) exercised his $4.5 million player option for the 2025 season Thursday, Mark Feinsand of MLB.com reports.

Stratton threw 58.1 innings out of the bullpen for the Royals in 2024, occasionally working in high-leverage situations. He posted a 5.55 ERA and 1.47 WHIP to go along with four saves and five holds. Stratton's season ended in mid-September due to forearm injury, though he is expected to be ready for the start of spring training.

Renfroe exercised his $7.6 million player option for the 2025 season Thursday, Mark Feinsand of MLB.com reports.

The veteran outfielder began the season as the starting right fielder for the Royals, though his role shrunk after the acquisitions of Tommy Pham and Robbie Grossman. Renfroe's primary shortcoming was a lack of power, as he posted a career-low .163 ISO across 424 plate appearances. Pham is entering free agency, which could give Renfroe a shot to start again entering 2025.

Alvarez cleared waivers Thursday and was sent outright to Triple-A Las Vegas.

The 30-year-old Alvarez posted a .967 OPS in Triple-A across 317 plate appearances in 2024 and reached the majors for the first time, going 9-for-37 with two RBI over 16 games. However, he no longer owns a spot on the Athletics' 40-man roster and will remain in Las Vegas as organizational depth.