Rockies, Betancourt together through 2012
The right-hander, already was slated to make $3,775,000 this year, will earn $4 million in 2012 under a new contract agreed to with the Rockies. The deal includes a $4.25 mutual option in 2013 with a $250,000 buyout.
The agreement was first reported by ESPN Deportes and is contingent on Betancourt passing a physical when he reports to spring training.
Betancourt, who turns 36 in April, went 5-1 with a 3.61 ERA last season.
He is the latest non-free agent to receive a multiyear contract from the Rockies this offseason, joining star shortstop Troy Tulowitzki, slugger Carlos Gonzalez, reliever Matt Lindstrom and starting pitcher Jason Hammel.