Rockies ink Street, Betancourt to multi-year deals

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With the deadline to submit figures for arbitration looming, the Rockies have agreed to multi-year deals with arbitration-eligible relievers Huston Street and Rafael Betancourt.
According to FOXSports.com’s Tracy Ringolsby, Betancourt will get $7.5 million over two years while Street’s deal is worth $22.5 million over three years with an option for 2013.
Colorado had previously declined a $5.4 million option on Betancourt for 2010, so $3.75 million per season represents a discount of sorts even if that’s still paying a premium for middle relief. Betancourt had a 2.73 ERA and 61/20 K/BB ratio in 56 innings split between Cleveland and Colorado last season, but struggled in 2008 and turns 35 years old soon.
Street likely would have been in line for around $7 million via arbitration and could have hit the open market following the season, so the Rockies essentially paid about $15 million for his first two seasons of free agency. That’s definitely pricey for a reliever, but Street is a 26-year-old with a 2.91 career ERA who saved 35 games with a 3.06 ERA, .194 opponents’ batting average, and 70/13 K/BB ratio during his first season in Colorado. He’s a legitimately elite reliever who’ll be just 29 when the contract ends.
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