Collins' two-year contract had been due to
expire at the end of the season.
He finished his seven seasons leading the Mets with a 551-583
record and guided the team to the 2015 World Series - losing to
the Kansas City Royals.
"This has been a tremendous run," Collins said. "I've had a
great time. Its been a wonderful experience."
The Mets finished this season second to last in the National
League East with a record of 70-92. They lost their final game
to the Phillies 11-0.
"I thought that this was a time for change," said Mets general
manager Sandy Alderson.
"Change is difficult. But it comes with baseball. Terry's a
baseball man. He will be till the day he dies."
(Writing by Jahmal Corner in Los Angeles; Editing by Greg
Stutchbury)
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