Rockies agree to deal with closer Betancourt

The Colorado Rockies and right-handed reliever Rafael Betancourt have agreed to an $8.5 million, two-year contract that guarantees him an additional $4.25 million.

The 36-year-old was due $4 million this year under a contract agreed to last January, a deal that included a $4.25 million mutual option for 2013 with a $250,000 buyout. Under Wednesday's new deal, this year's salary is the same, 2013 becomes guaranteed at $4.25 million and a mutual option for 2014 is added with a $250,000 buyout.

His performance bonus for this year was changed to $200,000 for 55 games finished. In 2013 and 2014, if exercised, he can earn $50,000 each for 40 and 45 games finished, $150,000 for 50, $200,000 for 55 and $250,000 for 60.

The Venezuela native saved eight of nine games filling in for an injured Huston Street last August. The Rockies traded Street to San Diego in December.

Betancourt has never had a closer's job to start a season. He has 27 career saves and 141 holds for Cleveland (2003-09) and Colorado (2009-2011).