The Rangers have informed outfielder Alex Rios that the club will decline its $13.5MM option for next year, Jon Heyman of CBSSports.com reports. Rios will instead receive a $2MM buyout.

That news is hardly a surprise, as Texas was said to be leaning strongly in that direction. Rios ended his first full season with the club on somewhat of a down note, ending the year on the DL with a thumb issue after a tough season. He slashed .280/.311/.398 over 521 plate appearances on the year, hitting four home runs and swiping 17 bags a year after he was good for 18 long balls and 42 steals. With his value on the bases down and defensive metrics generally viewing Rios as a below-average right fielder, he ultimately landed just above replacement level.

Rios should still garner plenty of interest on the free agent market. He will be entering his age-34 season, so a lengthy pact would be surprising, but Rios is not far removed from some very good seasons. Over 2012-13, he slashed .291/.329/.473 in 1,302 plate appearances with 43 home runs and 65 steals.

The news that the Rangers will decline the option brings to an end one of the more interesting contracts in recent memory. Fresh off of two big seasons, Rios inked a seven-year, $69.835MM extension with the Blue Jays back in April of 2008. Things turned sharply down in the 2009 season, but Toronto was famously bailed out of the deal when the White Sox claimed Rios off waivers.

Though Rios struggled mightily at times in Chicago, the club was rewarded at the end with the aforementioned seasons, and ultimately was able to trade Rios to the Rangers last August in exchange for Leury Garcia. Heading into the year, Rios’s option actually seemed likely to be picked up, which was quite a turnaround for that much-maligned extension. All said, over the life of the deal, Rios was worth just north of 15 wins above replacement (by the reckoning of both Fangraphs and Baseball-Reference).