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Reds exercise option on Johnny Cueto, decline options on Jack Hannahan, Ryan Ludwick

The team will bring back their ace for $10 million.

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Jamie Sabau

The Reds have made official decisions on three of their team options, exercising their $10 million option on right-hander Johnny Cueto and declining their options on infielder Jack Hannahan ($4 million) and outfielder Ryan Ludwick ($9 million), according to major-league sources. As a result, Hannahan will be paid a $2M buyout and Ludwick will be paid a $4.5 million buyout.

For the Reds, the decision to bring back Cueto was a no-brainer following an excellent season in which he pitched to a 20-9 record and 2.25 ERA in 34 starts. The 28-year old will be a free agent after next season, along with fellow starters Mat Latos, Mike Leake and Alfredo Simon.

Hannahan, 34, will hit the free agent market after hitting .188 in only 26 games for the Reds in 2014. The veteran has not hit above .250 since 2011 with the Indians, and may have to settle for a minor league deal this winter.

Ludwick, 36, hit .244 with nine home runs in 112 games for Cincinnati this season, but the $9 million pricetag was considered too high for the Reds to bring him back. As John Fay of the Cincinnati Enquirer reported last month, Ludwick is looking to play somewhere next year and would be open to being a bench player.