Nov 08, 2006 11:49 AM EST

Theo Epstein said on Tuesday that the team will not exercise its $7.5 million option on Foulke for next season, and if the closer chooses not to exercise his own option by Friday, he will become a free agent.

Epstein made the announcement a day before the team's deadline, perhaps an indication that Foulke's return is unlikely.

"The team option is not going to be exercised," Epstein said. "I've had some discussion with his agent but obviously it's a private matter."

Foulke, who would earn $3.75 million in 2007 if he decides to stay in Boston, will receive a $1.5 million buyout if he leaves. Foulke's agent, Dan Horwits, did not indicate Tuesday which way Foulke was leaning.

"He'll make his decision and then let the Red Sox know later this week," Horwits said.

Via Hartford Courant