Loney originally signed a three-year, million contract with the Rays following a rebound 2013 season in which he hit .299 with 13 HR and 75 RBI.During his three-year stint with the Rays, Loney was a .284 hitter with 26 HR and 176 RBI in 407 total games.
However, the Padres still hold the right of first refusal, meaning that San Diego can choose to add Loney to their 25-man roster before Loney can go elsewhere.
Loney, who is soon to be 32-years-old, struggled with the Rays in Spring Training, leading to his removal from the roster and subsequent release.
Partnered with offseason acquisitions such as Corey Dickerson, Steve Pearce, and Logan Morrison, the Rays had no clear role for Loney on their roster.
Loney cranked a tie-breaking, two-run homer off lefty reliever Mike Dunn to help power the Mets to 6-2 win over the Miami Marlins in Friday's series opener at Marlins Park.
With the game knotted, 2-2, a runner on first and no outs in the top of the seventh, Marlins manager Don Mattingly elected to pull starter Tom Koehler and bring in Dunn to face the left-handed hitting Loney.