At The Hardball Times today, I took a long look at Jenkins's option. Dialing back a year or so, I think most of us agreed it was a no-brainer to decline it. Now, it's not so clear.
But still, the presence of Gabe Gross means the money is better spent elsewhere:
In all likelihood, though, there will prove to be better ways to spend the $8 million saved by letting Jenkins walk. The bullpen was a problem, and Melvin could probably acquire two solid middle relievers for that sum. Another possible use would be to absorb salary as part of a trade for a catcher, another position at which the 2007 team was weak. While the Crew has fairly evenly-distributed talent throughout the diamond, there are still holes that eight million dollars would go a long way toward filling.
Of course, the author would appreciate it if you read the whole thing :).