Jason Bay LF FA Tue 11/13/12 1:41 PM
Jason Bay
LF FA
Jon Heyman of CBSSports.com reports that Jason Bay will receive the $15 million deferred as part of his settlement with the Mets by the end of 2015.
Bay is still owed a total of $21 million by the Mets, but this would suggest that he'll be paid $6 million in 2013. The Mets were originally responsible for the entire $21 million sum by the end of 2013, but the $15 million in deferred monies will now be paid in five installments over an additional two years. Heyman writes that the present-day value of the contract is worth only about $850,000 less than the full $21 million, so if Bay ends up making $850,000 or more with his next club, he'll make out ahead in the deal. It's really a win-win for both sides, as the Mets get some much-needed financial relief for 2013.