per rotoworld:

Dodgers declined LHP Randy Wolf's $9 million club option for 2008.
Wolf, who underwent shoulder surgery in September, gets a $500,000 buyout. The Dodgers are expected to have some interest in re-signing him to a smaller deal. He was 9-6 with a 4.73 ERA before getting hurt in July.

Think the Reds could take a look? An incentive type deal?