Barry Zito has known for months he would be leaving the Giants after seven up-and-down years with the team.
The sides formally parted ways Saturday, when the Giants declined to exercise Zito's $18M contract option for next season and instead owe the pitcher a $7M buyout.
Also Saturday, San Francisco declined its $3M mutual option for Andres Torres and must pay him a $500,000 buyout.
Via ESPN.com