Rockies cut ties with Jose Reyes, eat nearly $40 million in salary
The Colorado Rockies have designated Jose Reyes for assignment, opting to absorb nearly $40 million in salary instead of activating the former star shortstop after he completed a 51-game suspension for violating MLB's domestic violence policy.
The club has 10 days to either trade or release Reyes, or outright him to the minors for an assignment (which he could decline due to his veteran status). However, the team is expected to release Reyes once he clears waivers, which would make him a free agent.
Reyes, who did not participate in spring training, was arrested and charged with domestic violence for an altercation with his wife in Hawaii last October. While the charges were eventually dropped due to Reyes' wife not cooperating, MLB still decided to issue a 51-game suspension without pay to Reyes for violating the league's joint domestic violence, sexual assault, and child abuse policy.
The 33-year-old Reyes is owed the remainder of his salary for the present season (aproximatley $12 million), in addition to $26 million thereafter, which includes a $4 million buyout for 2018.
The Rockies will permanently hand the starting shortstop job to Trevor Story, who has exceeded expectations filling in for Reyes. The 23-year-old rookie is hitting .265/.318/.553 with 17 homers and 45 RBI this season.
Correction on how much #Rockies saved in Tulowitzki-for-Reyes exchange: It was $50M, not almost $60M. That includes money still owed Reyes.— Ken Rosenthal (@Ken_Rosenthal) June 15, 2016