FRIDAY, 10:08am: Renck says Iannetta's three-year deal is worth $8.3MM, with a $5MM club option for his first free agent year (2013).
THURSDAY, 3:23pm: Renck says Iannetta and the Rockies have agreed on a three-year deal worth more than $8MM. The deal includes an option for Iannetta's first free agent year, 2013. By comparison, Chris Snyder will earn $9.6MM for his arbitration years and Ryan Doumit will get $10.7MM.
1:00pm: The Rockies are close to signing catcher Chris Iannetta to a three-year deal, writes Troy E. Renck of the Denver Post. The contract would buy out all three of Iannetta's arbitration years. Renck says the Rockies' initial offer was around $6.8MM. He also notes that the team's budget has room for both Iannetta and Yorvit Torrealba.
Iannetta, 27 in April, slumped slightly to .228/.344/.460 in 350 plate appearances this year (still very good for a catcher). He logged 763.6 innings behind the dish, throwing out 26% of attempted thieves.