Mariners exercise option on Seth Smith; decline option on Chris Iannetta

The Mariners have exercised their $7 million option on outfielder Seth Smith and declined their $4.25 million option on catcher Chris Iannetta, a major-league source confirms.

Seattle considered both avenues for each decision, but ultimately did not surprise many by retaining Smith and letting Iannetta walk. Iannetta will not receive a buyout, and will become a free agent.

Smith, 34, hit .249/.342/.415 with 16 homers for the M’s last season, his third with the club. He will be an important part of the club’s outfield mix next year along with Leonys Martin, though the club is likely to make an addition or two in the wake of losing Norichika Aoki to the Astros this afternoon.

Iannetta, 33, hit just .210/.303/.329 with seven homers in his first season with Seattle. He will look to catch on with a club looking for veteran catching on the free-agent market this winter.