October 24, 2008, 11:05 am est

The New York Post's Joel Sherman reports New York Mets CL Billy Wagner's (elbow) $13 million salary in 2009 is not insured. Wagner is expected to miss all of 2009.

October 15, 2008, 10:10 am est

News: The Mets removed closer Billy Wagner from the 15-day DL. Wagner had elbow reconstruction surgery and it "went better than expected," the team said in a statement.

Analysis: Wagner could return in September 2009, but he would be nothing more than a setup man. He might never pitch again, especially since he said his current contract would be his last. The Mets have an $8 million option for 2010 that is unlikely to be picked up. It's safe to drop Wagner in all Fantasy formats

October 10, 2008, 4:30 pm est

CBSSports.com reports the New York Mets removed CL Billy Wagner (elbow) from the 15-day disabled list Thursday, Oct. 9.

September 29, 2008, 5:10 am est

The Houston Chronicle reports Houston Astros CL Jose Valverde recorded his 44th save of the season Sunday, Sept. 28, tying New York Mets CL Billy Wagner’s record set in 2003.

September 12, 2008, 5:55 pm est

The New York Daily News reports that the Mets have informed Billy Wagner that they will not pick up his 2010 option after undergoing Tommy John surgery on Thursday.Apparently Wagner is only interested in closing when he returns so it's likely the Mets will make a move to replace him this offseason (K-Rod?). The 37-year-old lefty will face plenty of doubts upon his return, but may have another one or two years left in his tank. In 45 games this season, he recorded 27 saves with a 2.30 ERA and a 0.89 WHIP.

Status: D.L.. Out for the season
According to Scot Schoeneweis, Billy Wagner has already been told that the Mets won't pick up his $8 million option for 2010. That's what Wagner told Schoeneweis yesterday, and it fits in with Wagner saying he's already thrown his last pitch as a Met. This whole situation has been pretty odd from the get go, with practically everyone already assuming that Wagner is going to miss all of 2009. We've seen veteran relievers make it back from Tommy John surgery after 9-10 months. If Wagner isn't even going to try to return before the end of the season, then one could argue that he'd be in violation of his contract.