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Rockies sign Betancourt to two-year contract extension

Jan 30, 2011, 3:14 PM EDT

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According to Enrique Rojas of ESPN Deportes, the Rockies have reached agreement on a two-year contract extension with reliever Rafael Betancourt.  The deal also carries a club option for 2013.

Betancourt, 35, has been one of the most reliable setup men in baseball for the past several seasons, especially recently in Colorado.  Since coming over from the Indians in the summer of 2009, the right-hander has posted a 3.08 ERA, 0.94 WHIP and 118 strikeouts in 87.2 innings.

He will make $3.77 million this season, $4 million in 2012, and that option is worth $4.25 million or a $250,000 buyout.  According to Steve Adams of MLB Trade Rumors, who did some translating of Rojas’ article, the total worth of the new deal is $8.02 million.

It’s rarely wise to shell out multi-year contracts to relievers, but Betancourt is a good one and probably worth the risk.  He will handle the eighth inning behind closer Huston Street this season for the Rox.

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