© 2011 MLB Advanced Media, L.P. All rights reserved.

12/05/11 7:46 PM EST

Executive VP Friedman staying with Rays

DALLAS -- Andrew Friedman will remain with the Rays as the team's executive vice president of baseball operations.

For the past several weeks, Friedman has been mentioned in rumors as one of the candidates for the Astros' general manager's vacancy. The fact that Friedman hails from Houston only added fuel to the speculation.

Friedman has not spoken on the matter, but in a statement released by the Rays on Monday night, team president Matt Silverman said:

"Andrew chose not to be a part of the Astros' process. It is in no way a reflection on the Houston organization."

Friedman has served in his current post since Nov. 3, 2005. Prior to that, Friedman spent two years with the Rays serving as director of baseball development. His previous experience includes two years as an analyst with the New York City-based investment firm Bear, Stearns & Co., Inc, and three years as an associate for the private equity firm MidMark Capital.

Bill Chastain is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.