Rockies Waive Volstad; Promote Oswalt

The Rockies have placed Chris Volstad on waivers, writes Troy Renck of the Denver Post. The move creates a 40-man roster spot for Roy Oswalt, who will be promoted and start tonight for Colorado. Jeff Francis has accepted a minor league assignment to Triple-A Colorado Springs, which clears a 25-man roster spot for Oswalt. We learned yesterday that Francis would be removed from the 25-man roster, but it wasn't clear whether he would accept a trip to the minors or be designated for assignment.

Volstad, 26, appeared in six games for the Rockies this season and allowed 10 runs in 8 1/3 innings with three strikeouts and one walk. In 10 games (nine starts) for Colorado Springs this season, Volstad has a 4.79 ERA with 3.3 K/9 and 3.1 BB/9.

Oswalt, 35, has pitched briliantly for Double-A Tulsa since signing with the Rockies in May. In five starts (33 1/3 innings), the longtime Astro has a 2.16 ERA with 6.8 K/9 and 1.9 BB/9. Last week I examined how much Oswalt would earn based on the incentives in his contract if he were promoted this week. Given the date, it's likely that he could earn nearly $4.3MM if he stays healthy and pitches well.

Francis, 32, re-signed with the Rockies on a one-year deal with a $1.5MM base salary and another $1.5MM worth of incentives. In 52 innings this season, he's posted a 6.58 ERA with 7.4 K/9 and 2.9 BB/9. The strikeout rate is actually the highest of Francis' career, as is his 50.3 percent ground-ball rate. He's been hurt by a homer-to-flyball ratio (20.4 percent) that's nearly double that of his career mark.

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