I've had a number of players opt out of mutual options (as a rule, I generally give mutual, not player, options, but I'm assuming that the logic "should" be the same). It seems that it's always a guy who has already started his decline phase and now wants the security of a multi-year committment - even if the next contract is for less than the rejected option. For example, I've seen guys with 4th or 5th year options for $5M, turn down the guarenteed money and then go out on the market and ask for a two year deal at $4M/yr.
Case in point:
Hardball Dynasty – Fantasy Baseball Sim Games - Player Profile: Vin Hart declined an S27 option for $8.5M in favor of seeking a multiyear contract. His asking price/year was considerably lower than what he'd just turned down.
8/21/2013 9:44 AM (edited)