3:51pm: Troy Renck of The Denver Post reports that Hammel will earn $3MM in 2011 and $4.75MM in 2012.
11:42am: The Rockies and Jason Hammel have agreed to a two-year deal according to the team (on Twitter). The deal buys out Hammel's next two years of arbitration-eligibility, though he will still be eligible for arbitration in 2013 as a Super Two. He is represented by Octagon.
MLBTR's Arbitration Tracker shows that Hammel filed for $3.7MM in arbitration earlier this week while the team countered with $3.1MM. He earned $1.9MM in 2010. Colorado has already signed Matt Lindstrom, Carlos Gonzalez, and Troy Tulowitzki to multiyear contract extensions this offseason.
Hammel, 28, was acquired from the Rays for minor leaguer Aneury Rodriguez before the 2009 season. In his two years with the Rockies, he's pitched to a 4.57 ERA with 7.0 K/9 and 2.3 BB/9 in 354 1/3 innings, though he battled a groin strain and arm fatigue in 2010. His 46.4% ground ball rate over the last two years ranks 35th among the 78 pitchers with at least 350 innings.