PORT ST. LUCIE, Fla. -- Although the Mets announced Sunday that Kyle Farnsworth has decided to exercise the out in his contract, the veteran reliever may be sticking around.

The sides are talking about Farnsworth remaining with the organization, presumably beginning the season in the minors and with an in-season contract out if he is not promoted by a specified date, a source told ESPNNewYork.com.

Sandy Alderson and John Ricco had informed Farnsworth Sunday that he would not make the big-league club.

"The Mets gave him every opportunity and we are very appreciative of the way Sandy and John handled the situation," agent Barry Meister said about that meeting.

Farnsworth, 37, had a 5.63 ERA in seven Grapefruit League appearances. He allowed 10 hits, including two homers, and four walks while striking out four in eight innings.

The Mets' Opening Day bullpen is projected to include Bobby Parnell, Vic Black, Jose Valverde, Jeurys Familia, Carlos Torres, Scott Rice and John Lannan.