Decline it he did, this according to Jeff Wilson:
#Rangers have been informed that Nelson Cruz will reject qualifying offer ahead of today’s deadline. No shock here.
There was really no harm for the Rangers here as by extending a qualifying offer, they’ve all but secured compensation if Cruz is to depart in free agency.
Had Cruz decided to take the offer, the Rangers would have slightly overpaid for one year of service, but they wouldn’t have been trapped in a long term deal with the slugger, something they would likely be concerned over given Cruz’s suspension for PED’s during the 2013 season.
As for Cruz, there wasn’t much reason to accept the offer as he’ll likely be able to secure a heftier, more long term deal on the open market though it’s not known currently if the Rangers are open to extending such a deal to their tainted offensive star.