Update: The Mets and Bay have negotiated an early expiration of his contract, which provides Bay his unconditional free agency. Terms of the agreement were not announcement, according to an official Mets' press release.
Recommendation: The Mets get out of having to pay Bay his full 2013 salary during the final year of the four-year, $60 million deal he signed in January 2010. This move also voids the vesting year of the contract and gives the Mets roster flexibility. While the terms have not officially been reported, several sources indicate that Bay will receive his full $16 million 2013 salary, $3 million buyout and $2 million bonus, which will be paid over time.