The Texas Rangers have declined a 2017 club option on left-handed pitcher Derek Holland, making him a free agent. Holland will receive a $1.5 million buyout.
Holland was a part of the Rangers' 2010 and 2011 AL championship rotation.
Holland, 30, posted a 7-9 record with a 4.95 ERA over 22 games and 20 starts last season for the Rangers. He spent time on the 60-day disabled list for a third consecutive season, missing two months with left shoulder inflammation, and was not on the club's roster for the American League Division Series against Toronto.
Originally selected by Texas in the 25th round of the 2006 June draft and signed in May 2007, he has spent his entire 10-year professional career in the Rangers organization.
"The Rangers appreciate the many contributions that Derek Holland has made to this franchise, both on the field and in the community," said Rangers President of Baseball Operations and General Manager Jon Daniels. "While today's action doesn't necessarily close the door on our future interest in Derek, we want to thank him for the impact he has made here in Texas."
While popular with the media, it was time for Holland to move on. He was due to make $11 million in 2017.
Holland posted a thank-you note to Rangers fans on his Instagram account Monday: