Relief pitcher Rafael Soriano will decline the qualifying offer extended by the New York Yankees and pursue a multi-year deal with another organization, according to Jon Heyman of CBS Sports.

Soriano exercised the opt-out clause for the final year of his contract with the Bronx Bombers, worth $35 million over three years. After the announcement of Mariano Rivera returning for the 2013 season, it is widely believed Soriano will not accept becoming a setup man, so he can pursue a more lucrative deal as a closer.

There have been reports stating that Soriano is going to look for a deal with an annual salary over $14 million, an unprecedented number for a reliever. Soriano is a client of agent Scott Boras, known for always pushing the market's limits.

Soriano saved 42 games for the Yankees in 2012 with a 2.26 ERA. He allowed 17 runs in 67⅔ innings and had 69 strikeouts.