Rockies Agree To Multi-Year Contracts With Street, Betancourt

MONDAY, 6:40pm: Troy Renck of the Denver Post has some updated incentive details on the Betancourt deal. He receives $50K for 40 games finished, another $50K at 45 and $100K at 50, 55 and 60 games finished.

TUESDAY, 12:50pm: The Rockies have agreed to multi-year contracts with righty relievers Huston Street and Rafael Betancourt, reports's Tracy Ringolsby

Street, who was arbitration eligible for the third and final time, agreed to a three year deal worth $22.5MM with an option for a fourth year. The deal is still pending a physical, which Street will take this coming weekend. The former AL Rookie of the Year came over in the Matt Holliday deal last offseason, then saved 35 games and posted a 3.06 ERA in 61.2 innings while making $4.5MM during his first season in Colorado.

Betancourt agreed to a two year deal worth $3.775M per season. He accepted the team's offer of arbitration earlier this offseason after being designated as a Type-A free agent, though the Rockies first declined his $5.4MM option for 2010. The Rockies acquired him at mid-season from the Indians, and watched as he put up a 1.78 ERA with a 29-5 K/BB ratio in 25.1 innings down the stretch. He earned $3.35MM in 2009.

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