Team doctor David Altchek will perform the surgery. He also operated on Santana's shoulder in September 2010. It took Santana more than 1 1/2 years to recover the first time.
The Mets still owe Santana $31 million, including a 2014 buyout.
Mets third baseman David Wright said he spoke with Santana on Thursday after an examination revealed the tear.
"He was kind of in a bit of shock," Wright said. "I don't think anybody was expecting this. He said he did everything possible to rehab this thing. He did everything the right way. For this to happen, I think for everybody, including him, it's kind of shocking and disheartening."
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The Boston Red Sox released right-handed reliever Bobby Jenks last summer while he was in a drug rehab center, MassLive.com reported. Jenks had about two weeks left of a 45-day stay at Cliffside Malibu, a luxury rehab clinic in Southern California, when the team let him go, according to the report.
The 32-year-old was arrested on DUI and hit-and-run charges in Florida in March 2012.
He was released in July after the team reached a settlement with him on the remainder of a two-year, $12 million deal he signed prior to the start of the 2011 season. Jenks then settled his DUI charges in December and had to complete a substance-abuse program as a condition of his probation.
Jenks was 2-2 with a 6.32 earned run average in 19 appearances in 2011 before back surgery and a pulmonary embolism sent him to the disabled list for the rest of the year. He has not played since then.
Jenks was a two-time All-Star with the Chicago White Sox, having saved at least 27 games a year for five straight seasons (2006-10) in Chicago. He was the White Sox closer his rookie season in 2005 when they won the World Series.
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The Colorado Rockies sent outfielder Tyler Colvin to Class AAA Colorado Springs. In 136 games last year, Colvin batted .290 with 18 home runs and 72 runs batted in. However, the 27-year-old went just 8-for-48 with 14 strikeouts this spring. The Rockies also designated catcher Ramon Hernandez for assignment.