Per Jon Heyman of SI.com, the Mets are close to finalizing a deal with free agent righty Tim Redding;

Right-handed starting pitcher Tim Redding is on the verge of signing with the Mets. Redding is expected to receive a one-year deal for $2.25 million, plus incentives.

Redding had a 90 tRA+ and a 5.16 tRA* last year in 182 innings with the Nationals. He would provide some rotational depth for very little money, but his signing would probably assure Jon Niese of a ticket to Buffalo when camp breaks in April.

(h/t MetsBlog).

Sam's take:

Redding is basically the definition of average. Eric Seidman projects him at 1.3 WAR using his Marcel Projection of a 4.77 FIP. If that turns out to be true, he figures to be worth about 7MM, a nice return on a modest investment. I have doubts about that Marcel's projection though, and would not be surprised if he ends up being almost exactly worth his contract.

The Mets will probably allow Redding to compete with Niese for the fifth spot. Anything more would be an overestimation of his abilities.  But considering the money, and assuming the Mets sign a better starter Lowe, Redding is a good sign.