The Mets and closer Francisco Rodriguez will not go to a scheduled arbitration hearing on Monday as the involved parties feel that they are nearing a settlement, according to Dan Martin and Joel Sherman of the New York Post. There's now belief on all sides of the table that an agreement could be announced as soon as Monday or Tuesday.
It was said that a grievance hearing and subsequent arbitration process would have been rather lengthy. Instead, the Mets, Rodriguez, the Commissioner's Office, and the Players Association have worked behind the scenes to strike a compromise.
As it stands now, the closer is set to earn $11.5MM in 2011 with a $17.5MM vesting option ($3.5MM buyout) in 2012. A settlement prior to arbitration likely means that the club will still be on the hook for those years. However, the Mets may be able to recoup some or all of the cash paid to Rodriguez during the time of his injury late in the season.
