The contracts are revealing, indicating how highly the Rockies think of catcher Chris Iannetta.
Monday, the Rockies signed Miguel Olivo to a one-year, $2.5-million deal with a club option. The length of the deal is a less-than-subtle suggestion: Colorado wants Iannetta to be the longterm answer at catcher, the first homegrown product to pull that off.
The Rockies finalized Iannetta’s new contract Tuesday, a three-year, $8.35-million contract.
In order to receive security and some peace of mind, Iannetta took a little less on his deal, which buys him out of his final three years of arbitration and includes a 2013 club option for $5 million in his first season of free agency. However, if Iannetta is traded any time before the 2013 season, he can void the club option and become a free agent. Shortstop Troy Tulowitzki and Brad Hawpe have identical provisions in their contracts.
“Hopefully this contract will help Chris relax. We all know how talented he is,” Tulowitzki said Tuesday.
The Rockies will pay Olivo $2 million with a club option for $2.5 million that includes a $500,000 buyout. That is $4.5 million less than they were going to guarantee Yorvit Torrealba.
According to information obtained by The Denver Post, Iannetta’s contract breaks down as follows: 2010: $1.75M with $250,000 advanced as a signing bonus; 2011: $2.55M; 2011: $3.55M.
His base in the 2012 season can increase by $450,000 if he starts 140 games in either of the previous seasons. There are smaller escalators beginning with 100 starts.
Footnotes
Olivo’s defense has received mixed reviews during his career. He is known for having a cannon arm, but the Royals struggled with passed balls and wild pitches last season.
Royals pitching coach Bob McClure said Tuesday that Olivo improved last season and took seriously his preparation with the pitchers, a necessity if he’s going to work well with Rockies manager Jim Tracy.
“He’s very athletic and can be as good as he wants to be defensively,” McClure said.
Troy E. Renck: 303-954-1301 or trenck@denverpost.com
