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Rockies extend reliever Rafael Betancourt’s contract

Jan 19, 2012, 5:28 PM EDT

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Rafael Betancourt will be a full-time closer for the first time this season at age 36 and today the veteran right-hander agreed to a contract extension with the Rockies.

Betancourt’s old contract pays $4 million this season and included a $4.25 million mutual option or $250,000 buyout for 2013, but Enrique Rojas of ESPN Deportes reports that the new deal converts that option into a $4.25 million guarantee and adds a $4.25 million option for 2014.

Or, put another way: Colorado exercised his 2013 option in advance and tacked on a new option for 2014, which is quite a commitment to make to a 36-year-old who hasn’t even thrived in the closer role full time yet. With that said, Betancourt has consistently been among the best setup men in baseball for the past decade and certainly showed no signs of slowing down last season, throwing 62 innings with a 2.89 ERA and 73/8 K/BB ratio while moving past Huston Street in the bullpen hierarchy.

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