Sandy Alderson has signed an extension through the 2017 season with the New York Mets.

"We are excited about the direction the team is headed and look forward to Sandy continuing his efforts to build the Mets into a postseason contender," COO Jeff Wilpon said. "Sandy and his staff have built our minor league system into one of the best in baseball, and will continue to balance player development along with making key additions that will help us reach our goals."

The Mets also announced that Terry Collins is returning for 2015, after a team option was exercised.

"Terry Collins has done an excellent job for us this season," Alderson said. "The team has played hard throughout the year and this is a reflection of Terry's energy and his passion for the game and for the Mets. We look forward to his leadership again next season."