The Boston Red Sox kept designated hitter David Ortiz by exercising a $12.5-million club option Thursday, and the San Francisco Giants declined a $9.5-million option on World Series MVP Edgar Renteria.

Teams had until midnight EDT to exercise options under the new rules agreed to by the commissioner's office and players association in September. Under the fast-track timetable, free agents such as Cliff Lee, Carl Crawford and Jayson Werth can start negotiating with all teams this Sunday, the sixth day after the World Series.

Ortiz wanted a new multiyear contract, but the Red Sox didn't want to make a longer commitment to a player who turns 35 in two weeks. Although he got off to his second straight slow start, Ortiz made his sixth AL All-Star team. He finished with a .270 average, 32 homers and 102 RBIs.

"I talked to him directly and he told me directly that he was cool with it," Boston general manager Theo Epstein said. "I think, in the end, he realized that we weren't in a position to give him what he was looking for in a multiyear arrangement."

Renteria, 34, is uncertain whether to retire after his three-run homer off Lee on Monday gave the Giants a Series-winning 3-1 victory over Texas in Game 5. The five-time All-Star shortstop was on the disabled list three times. His option carries a $500,000 buyout.

Washington's new deal

Ron Washington has agreed to a new two-year contract to manage the AL champion Rangers. The deal through the 2012 season was completed three days after the end of the team's first World Series.

Washington didn't have a contract past the 2010 season, but team president Nolan Ryan and general manager Jon Daniels had made it clear during the season they wanted him back.

Zimmer will return

The Tampa Bay Rays say senior baseball adviser Don Zimmer, 79, will return in 2011 for an eighth season with the AL East champions and his 63rd in professional baseball overall.

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