The agreement, which was first reported by Newsday on their Web site, is reported to be a $119 million pact ironed out between Beltran, agent Scott Boras and the Mets.
Beltran allowed a midnight deadline for re-signing with the Houston Astros lapse on Saturday, and Boras and the Mets reportedly worked through the night to hammer out the final details of the contract.
The newspaper reported that Beltran will receive an $11 million signing bonus, and speculates that Beltran will be in line to take a physical on Monday. He could be introduced at Shea Stadium as early as Tuesday.
That will create a dilemma for the Mets, as most of their front office was slated to be in Port St. Lucie, Fla. this week for the club's annual mini-camp, but it's a happy problem for the team to handle.
The Mets similarly shocked the baseball world in December by inking free-agent Pedro Martinez – like Beltran, considered the best available option at his position this winter – to a four-year, $53 million contract.
They have also tendered a three-year offer to first baseman Carlos Delgado and will likely resume negotiations with him now that the Beltran pursuit appears to be complete.