Greg Holland, an All-Star closer for the Rockies this season, will not exercise a $15 million player option in his contract and instead will become a free agent this offseason, FanRag Sports reported Thursday.
The hope for Holland, according to FanRag, is that he can secure a multiyear deal on the open market.
Holland's agent, Scott Boras, told ESPN's Jerry Crasnick that his client hasn't made a decision yet on his contract option.
The 31-year-old right-hander had 41 saves -- tied for the most in the NL -- to go with a 3.61 ERA this season for the resurgent Rockies. He did fade some in the second half, with five losses and a 6.38 ERA.
Holland joined Colorado last offseason on a $6 million deal that included the $15 million option. He recorded 125 saves and made two American League All-Star teams as the Royals closer from 2013 to '15, before undergoing Tommy John surgery on his right elbow and missing all of 2016.
Holland will join a relatively weak free-agent closer market this offseason. Wade Davis of the Cubs is the other big name expected to be pursued. Comparatively, three free-agent closers last offseason -- Aroldis Chapman (Yankees), Kenley Jansen (Dodgers) and Mark Melancon (Giants) -- signed multiyear deals worth at least $60 million.