The Rockies and Rafael Betancourt have agreed to a contract extension, the team announced (on Twitter). Enrique Rojas of ESPN Deportes reports that the deal guarantees Betancourt's $4.25MM mutual option for 2013, and adds an option at the same salary for 2014. The Octagon client will earn $4MM in 2012 as part of his current contract.
"Basically, the Rockies executed the mutual option I had in my contract for 2013 and added another in 2014, which guarantees me work for the next two years and the possibility of a third followed in Colorado," said Betancourt. "I prefer [security] first, I am happy the deal."
Betancourt, 37 in April, remains one of baseball's best late-game relievers. He pitched to a 2.89 ERA in 2011 with 10.5 K/9 and 1.2 BB/9 in 62 1/3 innings, saving eight games while Huston Street was on the disabled list. During his two and a half years in Colorado, Betancourt has pitched to a 3.00 ERA with 11.5 K/9 and 1.3 BB/9 in 150 innings.
Betancourt is expected to close for the Rockies in 2013 following the trade of Street to the Padres. Check out RotoAuthority's Closer Depth Chart for your fantasy bullpen needs.