New York Mets
The $21 million owed to Jason Bay will be entirely paid by 2015, according to CBSSports.com.
The report states that $15 million of that amount will be deferred beyond this season, in five payments. The deferral reportedly reduces the present value of the amount owed by about $850,000.
One other wrinkle: Normally, Bay's 2013 salary elsewhere would be deducted from the amount the Mets owe. That's not the case with Bay, so whatever he earns elsewhere will be on top of the amount owed by the Mets, according to the report.
The Indians reportedly have expressed interest in Bay.