Jason Bay’s disappointing tenure with the New York Mets is officially over.

On Wednesday the team and the 34-year-old outfielder announced they had “negotiated early expiration of his contract.”

The deal makes Bay, a native of Trail, B.C. an unconditional free agent. Terms of the deal were not disclosed by the Mets.

sources: Bay will receive his full salary from mets as part of deal

— Jon Heyman (@JonHeymanCBS) November 7, 2012

According to Baseball-Reference.com, Bay was scheduled to earn $16 million in 2013 with a $17 million vesting option for 2014 with a $3 million buyout.

“Jason is a great teammate, hard worker, stand-up guy, and true gentleman,” said Mets chief operating officer Jeff Wilpon in a release. “Like Jason, we had planned for the kind of production here that he enjoyed in Boston and Pittsburgh, where he established himself as one of the game’s top players. We wish Jason and his family success and happiness in the future.”

A three-time all-star with the Pittsburgh Pirates and Boston Red Sox, Bay finished seventh in AL MVP voting with Boston in 2009 after hitting 36 home runs with a slash line of .267/.384/.537/.921.

The following off-season he signed a four-year, $66 million deal with the Mets but back and concussion issues would limit him to just 288 games over the past three seasons.

Bay’s production severely declined with the Mets, posting a .234/.318/.369/.687 line with the team.

On Wednesday, Bay said he plans to continue playing.

“I still feel I have plenty to give to this game and that I can play baseball at a high level,” he said via a press release. “I’m excited to keep playing and have no intention of just walking away. I enjoyed my time in New York. I have no regrets in signing with the Mets, other than that I wasn’t able to play to the level that the team, the fans and I all expected and that we weren’t able to win more games.

“I move on with nothing but an appreciation for the organization and its fans and best wishes to all my teammates there.”

Mets manager Terry Collins also took time Wednesday to wish Bay well.

“As I’ve previously said, there’s not a player who tried harder to succeed or was more frustrated and disappointed than Jason himself,” said Collins. “I’ll miss Jason’s presence in the clubhouse as a player, teammate, and person.”

bay has agreed to defer some of the $21. so that is the mets’ end of the deal. #mets satisfied it was right way to go tho.

— Jon Heyman (@JonHeymanCBS) November 7, 2012