Rox weigh decision on Betancourt

Colorado has until 10 p.m. MT to offer reliever arbitration

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By Thomas Harding / MLB.com

12/01/09 1:32 PM EST

DENVER -- Rockies general manager Dan O'Dowd said the club and free-agent reliever Rafael Betancourt "have not made a lot of progress" in negotiations. But a pending move could help.

The Rockies have until 10 p.m. MT Tuesday to offer Betancourt arbitration. If he accepts by Monday, he'll be treated as an arbitration-eligible player. If he doesn't accept and signs elsewhere, the Rockies will be entitled to two early picks in next year's First-Year Player Draft.

O'Dowd declined to say what the Rockies will do with Betancourt, because the decision was pending. The Denver Post reported Tuesday that Betancourt will be the only free agent the Rockies will offer arbitration. The Post suggested that Betancourt could end up with about $5 million through arbitration. The Rockies declined a $5 million option for 2010 in hopes of negotiating a different deal, but still could fit in Betancourt at that figure.

The Rockies will continue to negotiate with three other free agents of interest -- starting pitcher Jose Contreras, reliever Joe Beimel and catcher Yorvit Torrealba -- but will continue to negotiate in hopes of retaining them.

Thomas Harding is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.