The Detroit Tigers have declined Kenley Jansen's $12 million club option, making him a free agent.
Jansen is two saves shy of the 500 mark. He would join Mariano Rivera and Trevor Hoffman as the only pitchers to reach the mark if he gets there, which he should if he continues to play.
Hoffman and Rivera both reached 600 saves, and Jansen will not reach that mark. However, he should be able to secure himself as third all-time in saves. He received a $2 million buyout, and many teams could show interest.
He is still a quality pitcher, posting a 3.20 ERA in 50 games last season. He had 22 saves for the Tigers and could end up being the last player to ever reach the 500-save mark.
Jansen has a strong case to be a Hall of Famer when he does retire, but it's unlikely that he will retire when he's so close to 500 saves and pitching well.
He may not be good enough to be the primary closer on a contender anymore, but he could certainly be a great option for a team looking to sneak into the postseason and see what happens. Another option for him could be signing as a high-leverage reliever who could get some opportunities to close games on a contender.
Regardless, he should have no trouble finding a new team, even though he is 39 years old. The Los Angeles Dodgers and Boston Red Sox are the only teams he has spent more than one season with.
A return to the Dodgers would make for a storybook ending, but they already have a closer. As for the Red Sox, they still have Aroldis Chapman, who could be Hall of Fame-bound one day as well.
It's likely that Jansen will only sign with a team that guarantees him the closer role, so his market may be limited. If he is open to signing with a team that won't make him the primary closer, the pool of teams would be significantly larger.