The Mets announced negotiated an early expiration of Jason Bay’s contract, the team announced.

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Update: Nov. 7, 1:55 pm: Jon Heyman of CBS Sports says Bay will receive his full salary as part of the agreement.

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“Jason has a tremendous work ethic. There was never any question about it,” Sandy Alderson said in a statement. “Unfortunately, the results weren’t there and we are in a results-oriented business. We thank Jason for his efforts and wish him well.”

The agreement grants Bay his unconditional release, and he will be removed from the roster – terms of the agreement were not disclosed.

“There’s not a player who tried harder to succeed or was more frustrated and disappointed than Jason himself,” Terry Collins said. “I’ll miss Jason’s presence in the clubhouse as a player, teammate, and person.”

In 288 games with the Mets since 2010, Bay hit .234 with just 26 home runs and 124 RBI in 986 at-bats.

“I still feel I have plenty to give to this game and that I can play baseball at a high level. But after serious consideration, both sides agree that we would benefit from a fresh start,” Bay said. “I’m grateful we were able to reach an agreement to allow that to happen. I’m excited to keep playing and have no intention of just walking away. I enjoyed my time in New York. I have no regrets in signing with the Mets, other than that I wasn’t able to play to the level that the team, the fans and I all expected and that we weren’t able to win more games. I move on with nothing but an appreciation for the organization and its fans and best wishes to all my teammates there.”

Bay signed a four-year, $66 million contract with the Mets before the 2010 season. He was to earn $16 million in 2013. The team held a $17 million option for 2014 with a $3 million buyout.

“Jason is a great teammate, hard worker, stand-up guy, and true gentleman,” Mets COO Jeff Wilpon said. “Like Jason, we had planned for the kind of production here that he enjoyed in Boston and Pittsburgh, where he established himself as one of the game’s top players. We wish Jason and his family success and happiness in the future.”

I still have to wonder if we will find out they reworked his deal, Not sure why you would need to negotiate if youa re gonna pay the whole contract, But yes now we know he will not be on this team.

"I still have to wonder if we will find out they reworked his deal, Not sure why you would need to negotiate if youa re gonna pay the whole contract, But yes now we know he will not be on this team. "

Because a dollar today isn't worth a dollar 10 years from now. That is why it has to be renegotiated.

Long Live The Wilpon's!

If they are deffering it yes, I have not seen any details other then he will still get his 2013 salery, Are they deferring money as they did with Bobby Bo Bo?

It is a step a good step.

From Joel Sherman

#Mets say wouldn't have done Bay buyout if didn't give ability to spend more in '13, would just have tried again with Bay if that were case

They are deferring it, over multiple years.

Mets officials say they did it too add more players this offseason.

From Joel Sherman

#Mets released Bay because can spread $21M owe over several yrs rather than next 12 months, free up some $$$ now Bay accepted relase because getting all $$, fresh start, all winter to hook on somewhere else #Mets. Union accepted because while (cont)

Bay losing some current-day value with deferral, if he just was released new team would just sign for minimum with #Mets paying rest But now Bay can get more than MLB minimum, which is worth more than deferrals, no offset back to #Mets. So, for example, Bay can sign minor lge contract for $800,000 if make MLB team, gets all of that rather than $450,000-ish minimum deal.

something of equal/greater value Union saw Bay's chance at $$ with new club as no-less-than equal offset to let #Mets defer $21M for few yrs
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That makes so much sense it's scary.

I'm kind of disappointed. I felt that 2013 was going to be his breakout year.

Sensible win-win bargaining. Everybody walks away happy. Makes a lot of sense, actually. I'm surprised it doesn't happen more often in baseball.

agreed

I see.

That is what I thought, Glad to see it.

I was listening to a metsblog podcast ands they hit the nail on the head saying even if he does it does not mean he would have done so here.