Troy Renck follows up on the reports from last week that Huston Street had a deal in place with the Rockies to avoid arbitration and buy out two years of free agency. The breakdown of the deal is as follows: Street receives salaries of $7.2 million in 2010, $7.3 million in 2011 and $7.5 million in 2012. The contract includes an option for 2013 that would be worth $9 million if the club exercises it. Should the Rockies decline, Street can exercise the option. However, the Rockies can then buyout Street's option for $500,000, which accounts for the final half million of the $22.5 million guarantee.
Despite having the framework of an agreement in place, Street and the Rockies exchanged figures last Tuesday. The Rockies offered $7.1 million with Street looking to get $8.35 million. Each individual year's salary ends up falling well below the midpoint of the exchanged figures - $7.725 million. Street made $4.5 million in 2009. His 2010 salary represents a 60% raise over last season.
Street handled the closer role for the Rockies in 2009, helping them reach the playoffs again after a one year absence. His 35 saves were the second highest total in his career, and only a short September stint on the DL prevented him from hitting 40.
The Rockies have no more pending cases with arbitration eligible players. Hearings are set to begin next month to resolve the final 22 cases that remain pending. Please visit the salary arbitration figures page for more information.
Joe Tetreault is a member of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey.
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