NEW YORK -- The Mets' hearing with Francisco Rodriguez scheduled for Monday has been canceled as the sides are nearing a monetary settlement.

The Mets had sought to make K-Rod's contract nonguaranteed, but the parties are working toward a compromise. The Mets plan to keep K-Rod as part of the team, though they may try to trade the closer.

K-Rod injured his thumb in an incident where he was arrested for allegedly punching the grandfather of his children.

The New York Post first reported the hearing had been canceled.

SI Apps
We've Got Apps Too
Get expert analysis, unrivaled access, and the award-winning storytelling only SI can provide - from Peter King, Tom Verducci, Lee Jenkins, Seth Davis, and more - delivered straight to you, along with up-to-the-minute news and live scores.