Nov 13, 2012, 1:35 PM EST
Jason Bay‘s “buyout” or whatever we want to call it from the Mets is gonna turn out to be a pretty good deal for him. Rather than some lengthy, Bobby Bonilla-esque buyout, Jon Heyman reports that he’ll be paid all of his money — all $21 million he was still owed on his deal, which originally ran through 2013 — by the end of 2015:
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.
So if he makes $850,000 or more in 2013, which is totally possible, he’s ahead of the game.
- Roy Halladay is retiring 53
- Tony La Russa Bobby Cox, Joe Torre all unanimously elected to the Hall of Fame 43
- Tony Blengino says recent report on Seattle front office is “just the tip of the iceberg” 60
- Rakuten Golden Eagles appear likely to allow Masahiro Tanaka’s departure to MLB 48
- 2013 Winter Meetings Preview 23
- Robinson Cano agrees to $240 million deal with Mariners (260)
- Yankees agree to seven-year, $153M contract with free agent outfielder Jacoby Ellsbury (160)
- Report: Mariners willing to offer Robinson Cano a 10-year, $240 million deal (143)
- Report: Yankees have agreed to a three-year deal with Carlos Beltran (125)
- Brett Gardner is drawing “significant” trade interest (112)