Found February 06, 2009 on Dom D's Mets Fan Blog:
According to Ken Davidoff of Newsday, the Mets have signed Pedro Feliciano to a one-year contract for $1,612,500 to avoid arbitration.

Feliciano, 32, has become one of the Mets' more reliable relievers. While he put up a 4.05 ERA in 2008, he limited lefty batters to a .280 on-base percentage and .295 slugging percentage.

The pitcher had submitted a salary of $1.950 million for his arbitration hearing, which had been scheduled for next Thursday, Feb. 12, while the Mets submitted $1.350 million. So basically the Mets met him half way..

Feliciano can earn bonuses of $12,500 for 60 appearances and $25,000 for 60 innings pitched. In 2008, he totaled 86 appearances and 53 1/3 innings pitched.

In other news according to Bart Hubbuch of the NY Post, the Mets are leaning towards Will Ohman to take over Scott Schoeneweis's spot on the roster.

The Mets GM contacted Ohman's agent on Wednesday to discuss a potential contract, but the Amazin's are likely to have competition from the rival Phillies for the lefty's services.

Ohman, 31, was 4-1 with a 3.68 ERA in 58 innings with the Braves last season after spending his first five years in the big leagues with the Cubs.

If the Mets don't get Ohman, they may look to sign other lefties Joe Beimel or Ron Villone..
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