The team announced today that it had negotiated with Bay a buyout of the remainder of his contract, meaning Bay immediately became a free agent.
Terms of the buyout agreement have yet to be disclosed, but Bay had $19 million remaining on the four-year, $66 million deal he signed prior to the 2010 season.
Bay inked his lucrative free agent contract with New York after his impressive 2009 campaign with the Boston Red Sox. That year he hit .267/.384/.537 with 29 doubles, three triples and 36 home runs, totals that earned him MVP consideration.
To give you an idea of his immense struggles since, Bay has only hit a total of 26 home runs over three seasons with the Mets. Last year he appeared in 70 games and hit .165/.237/.299 with two doubles and eight home runs. In his three seasons with New York Bay has hit .234/.318/.369 over 986 at-bats.