According to David Lennon's Twitter:
#Mets finally show hand. Source confirms first two offers going out are to Molina and Bay.
Looks like the Mets could be signing their Raul Ibanez and their...well no one as bad as Bengie Molina has the contract we're probably offering. Maybe Jason Kendall.
Jason Bay is a very good player, a fantastic hitter, a sharped-dressed man, and a poor fielder. We can speculate that the fielding might not be as bad as it seems, with the Green Monster and Fenway's other leftfield quirks, but that's small comfort. He'd be an improvement, but not the best long-term investment for a NL team. CHONE projects +21 batting runs and -4 fielding runs (I'd take that). He does two things well that the Mets aren't used to: walking and hitting homeruns.
Bengie Molina is not good! Chone projects -15 batting runs, -3 fielding runs. I project -20 basrunning runs.