The Padres are planning to decline their $3MM club option on Mitch Moreland, reports ESPN’s Jeff Passan (Twitter link). The veteran first baseman will instead receive a $500K buyout and hit free agency. The Padres have confirmed the move.

San Diego gave up a pair of well-regarded prospects, outfielder Jeisson Rosario and infielder Hudson Potts, to acquire Moreland from the Red Sox before the August 31 trade deadline. Both Rosario and Potts would’ve had to be added to the 40-man roster or else be exposed to the Rule 5 draft this offseason. Freeing up roster space to protect each player figures to be easier for Boston than it would’ve been for the Padres, who have quite a few top prospects who’ll need roster space in the coming months. Nevertheless, losing Rosario and Potts looks like a hefty price to pay for one month of Moreland’s services.