The Colorado Rockies announced through their official Twitter feed that relief pitcher Rafael Betancourt has signed a contract extension with the team through the 2013 season that includes a mutual option for 2014.
The deal guarantees that Betancourt will receive $4.25 million in 2013 with the 2014 option being worth the same amount. Betancourt's previous deal with Colorado had an option for 2013 worth $4.25 million, but this contract guarantees that salary and adds the additional option. He will receive $4 million for 2012.
The 36-year-old has been one of the top relievers in the game over the past few years. In 2011, he posted a 2.89 ERA over 62 innings with Colorado, also converting eight save opportunities. Betancourt is known for putting up spectacular strikeout-to-walk ratios; since the beginning of the 2010 season, no pitcher with at least 100 MLB innings has bested his 10.13 K/BB figure.