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Yeah put him in the minors and hope he retires at the start of the next season. Its not as though you gave him a huge contract but giving him 3 years was obviously a mistake. With older players like that I would rather over-pay for one year or two maximum. I am not sure what your budget was like or what sort of contract he wanted/would accept so I am not sure what I would have done in your shoes. If you have 5 million to spare this year you could just buy him out and release him otherwise I would go the minors route.
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