Found October 25, 2008 on Dom D's Mets Fan Blog:
In Ken Davidoff's baseball insider he has this to say about K-Rod and Manny:

"The Mets have convinced themselves that Francisco "K-Rod" Rodriguez just isn't worth the money he wants to close. Signing K-Rod might be expensive, but it's simple. The other options, bidding $4 million a year less for Brian Fuentes than you would for K-Rod, dipping into a farm system that is just getting a little bit healthy in order to trade for J.J. Putz or Huston Street or just auditioning Luis Ayala and Bobby Parnell are not simple. They're high-risk."

So far this has been the plan all along. They will not big time money on relievers and they will look more to the trade options. They will also look into the free agent market to get some low key guys like Derek Lowe, Brian Fuentes, Juan Cruz and Jeremy Affeldt to fill out their roster as I posted yesterday.
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