Originally written on MetsZilla  |  Last updated 11/13/12
Last week New York Mets fans were left to rejoice in the news that the team had cut ties with arguably one of the biggest free agent busts in baseball history, Jason Bay.  The team stated that it had “negotiated an early expiration of Bay’s contract” and that the agreement would provide Bay his unconditional free agency while the Mets would gain roster flexibility.  Terms of the agreement were not disclosed at the time but it soon became known that the left fielder would in fact receive his full 2013 salary, though some of that money would be deferred. Today John Heyman of CBS Sports shed some light on how exactly the financial arrangement will take shape over the next few years and what it means for both sides: Not only will Bay be paid the entire $21 million he is owed by the Mets, as has been reported, but the $15 million that is being deferred under the terms of the severance agreement is to be paid by the end of 2015, meaning the deferred monies will be paid only over an additional two years, CBSSports.com has learned. Neither side would comment on the deferred payments, but sources familiar with the deal say the short deferral — the deferred monies are to be paid in five installments — means the present-day value of the contract is worth only about $850,000 less than the full $21 million. Had the team simply cut him, they would have had to pay him all the money by the end of 2013.” The upside for Bay, beyond a fresh start and a change of scenery, is clear.  As Heyman writes “the even bigger financial plus for Bay is that the Mets agreed to waive the usual offset provision, whereby the team would have been reimbursed the amount Bay signed for elsewhere. So if Bay can make a deal for more than $850,000 elsewhere, he’s automatically going to come out ahead of the game.” Photo by Michael G. Baron Giving up on Bay while ‘negotiating’ a buyout that paid him the full value of his contract may not seem like much of a deal for the Mets, but as Heyman points out, there is a plus side for New York as “the new deal does give the Mets some immediate financial relief.”  What the team decides to do with the roughly $15 million that is being deferred remains to be seen, but if it provides them with the flexibility to bring a free agent like Torii Hunter or Melky Cabrera on a 1-year deal then the return on this deferment will go long beyond just having to NOT see Jason Bay in a Mets uniform…..which in itself sort of defines addition by subtraction.
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Adrian Beltre completes cycle, gets mad when assaulted

Gruden had to convince Dan Snyder to bench RG3

Jim Mora turns P. Diddy fight into recruiting pitch for UCLA

Illinois releases results of women's basketball probe

Richie Incognito named starter by Rex Ryan

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

DeMarco Murray isn't thrilled Eagles limited reps in practice

Brandon Weeden: 'God forbid I am forced to play' for Dallas

Ben Roethlisberger: Markus Wheaton is ready to break out

Hernandez tipster allegedly had sexual relationship with him

Rookie WR Tyler Lockett has Pete Carroll, Seahawks gushing

Packers TE returns to practice in wake of family tragedy

WATCH: Giants players fight during training camp

Lindsey Vonn shows support for Tiger Woods on Twitter

Report: Rousey to star in film based on her autobiography

Porn star offers to cook meal for any sports champion

Why everyone is wrong about Cowboys Tony Romo, Part 1

Oregon was only team drug tested during CFB Playoff?

Five 2nd year NBA players ready to take the next step

John Daly wants to be US Ryder Cup captain

Rodgers appears in another Olivia Munn workout video

Matt Hasselbeck is still getting random drug tests

Five teams that won at the MLB trade deadline

What should be expected from Aaron Rodgers in 2015?

MLB News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Adrian Beltre gets mad when assaulted after HR

Lindsey Vonn shows support for Tiger

Notre Dame doesn't need a conference

Rex takes jabs at Jets' management

Sanchez: It's 'crazy' to call Chip racist

Ronda Rousey calls out Cyborg

Five most underrated players in the NFL

Five potential NFL salary cap casualties this preseason

Winners and losers of the 2015 MLB trade deadline

Pirates do Pirates at deadline: Neat little moves

Mets acquire Cespedes from Tigers

Ranking the NFL’s 32 head coaches

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker