Oswalt gets a $2 million buyout instead of $16 million next season. Lidge receives a $1.5 million buyout instead of $12.5 million next year.
Oswalt was 9-10 with a 3.69 ERA in 23 starts for the Phillies this past season. The three-time All-Star right-hander was acquired in a trade with Houston on July 29, 2010. He was 16-11 with a 2.96 ERA in 35 starts for Philadelphia.
Lidge went 0-2 with one save and a 1.40 ERA in 25 appearances for the Phillies in 2011. In four seasons with Philadelphia, Lidge was 3-11 with 100 saves and a 3.73 ERA. He was 1-1 with 12 saves in 12 opportunities and a 1.77 ERA in the postseason.
Lidge was 48 for 48 in save chances, including postseason, in helping the Phillies win the 2008 World Series.
General manager Ruben Amaro Jr. said the team will consider re-signing both players. The five-time defending NL East champions lost to St. Louis in five games in the division round.