[alnorth]

There's also pride getting in the way. Rany wrote about it a couple weeks ago:

Contrary to how it seems sometimes, the Royals are quite aware of what people think about Hochevar. They are also aware that almost everyone thinks they’ve made a big mistake by retaining him at such a high salary – and by “everyone”, I don’t just mean fans, I mean most front offices. They know they’re bucking conventional wisdom here.

And if they cut bait with him now, they’d be admitting they made a mistake without even giving him the chance to prove it. The embarrassment that would cause makes it highly unlikely that they would do such a thing. The only scenario I could see that would earn him his release is if Hochevar’s stuff is qualitatively down this year – his velocity is gone, or he can’t throw strikes, something like that. Basically, the Royals would need an excuse – an excuse above and beyond the fact that he’s been a lousy pitcher for five years.

Once the season starts, things change. A bad first six weeks in the rotation might be enough to move him to the bullpen, if not off the team. The problem, of course, is that by that point his entire salary is guaranteed.