NEW YORK — Baseball’s business began Friday with the New York Yankees exercising $15 million options on second baseman Robinson Cano and center fielder Curtis Granderson, two of the disappointments in their AL championship series loss to the Detroit Tigers.

Oakland, the surprise AL West champion with a major league-low $59.5 million payroll, exercised a $4.5 million option for closer Grant Balfour and declined its half of a $10 million mutual option for shortstop Stephen Drew, who receives a $1.35 million buyout.

Minnesota declined a $9.25 million option on right-hander Scott Baker, who missed the season because of a torn elbow ligament. The Twins are interested in keeping him at a lower salary.

The Los Angeles Dodgers, who haven’t made the playoffs in three years, declined options on first baseman Juan Rivera ($4 million), right-hander Todd Coffey ($2.5 million) and catcher Matt Treanor ($950,000).

Cano hit .313 with 33 homers and 94 RBIs during the regular season and Granderson hit 43 homers and drove in 106 runs, but had a career-low .232 average and a career-high 195 strikeouts. Cano batted .075 (3 for 40) in the playoffs with no homers and Granderson was 3 for 30 with 16 strikeouts. Both can become free agents after the 2013 season.

Decisions on options are due by 11:59 p.m. Friday, although some individual player contracts require they be made earlier.