The New York Yankees announced on Wednesday that pitcher Rafael Soriano has opted out of his contract.

Soriano, who was due $14 million for 2013, will receive $1.5 million as a buyout for the final year of his contract. The Yankees are expected to counter with a qualifying offer of about $13.3 million in order to get a top draft pick as compensation should he sign with another team.

The native of the Dominican Republic saved 42 games in 46 chances in 2012, going 2-1 with a 2.26 ERA while filling in for an injured Mariano Rivera.

Soriano is 15-24 with 132 saves and a 2.78 ERA in 453 career games (eight starts) with the Mariners, Braves, Rays and Yankees.

Rivera, who tore his ACL in May, has yet to make a decision on his future.

The Yankees also announced that third baseman Casey McGehee opted for free agency and right-hander Brad Meyer was sent back to the Nationals.