TUESDAY, 4:43pm: The Angels didn’t get a chance to match the Mets’ offer.
3:42pm: Sherman agrees on the fourth year, $14MM vesting option mentioned by Rosenthal.
2:31pm: Sherman says the Mets agreed to terms with K-Rod on a three-year, $37MM deal. He gets about half as much money as was originally floated. The Angels will receive the Mets’ #25 pick in next year’s draft as well as a supplemental pick.
2:12pm: Sherman says K-Rod may be in New York tomorrow for his physical.
1:43pm: Sherman says Kinzer and the Mets are huddled this morning trying to put the finishing touches on the K-Rod deal. If it gets done, the Mets may move on to Derek Lowe. Rosenthal says the deal includes a $14MM fourth-year vesting option plus performance bonuses.
6:32am: David Lennon of Newsday also speaks of a three-year deal worth $12MM a year being close.
2:46am: Jon Heyman says the Mets appear to be closing in on a deal with K-Rod, likely for three years and about $37MM. The gap was apparently closed when the Mets guaranteed a third year. Just a year ago, a lesser, older free agent closer, Francisco Cordero, received four years and $46MM.
12:54am: According to Joel Sherman of the New York Post, the Mets are on the brink of landing Francisco Rodriguez. His agent Paul Kinzer is more optimistic than ever. A deal could be done before the end of the Meetings.