I missed this news earlier today, but ESPN New York reported that manager Terry Collins was quoted today saying that Johan Santana will be out till June 2011.
Here is what Adam Rubin wrote in an article where he buried this news under the headline "Pretty heavy on Young, Mookie to 1B":
• The manager estimated a June return for Johan Santana. Santana underwent Sept. 14 surgery to repair a torn anterior capsule in his left shoulder. Sandy Alderson already had been on the record noting Santana would not be ready for the start of the season.
I am of the belief that Santana could be out longer than this, and that he won't be the same pitcher when he returns. With that said, he is worth a low dollar bid in keeper leagues just in case I am wrong.