The Colorado Rockies announced last night that they have reached an agreement on a two-year contract extension though 2016 with left-handed pitcher Jorge De La Rosa, The contract extension is worth $25 million over two years, sources have told Ken Rosenthal of FOXSports.com. De La Rosa will be paid an average annual value of $12.5 million in both years of the extension.
Jorge De La Rosa, 33, was due to become a costless agent this offseason, as his contract expires after the 2014 season. In 28 starts this season, De La Rosa has a 13-10 record and a 4.26 ERA over 160 and 2/3 innings pitched, while accumulating a 100 ERA+ and a 4.40 FIP. If De La Rosa were to of hit costless agency, he would of likely received a multi-year deal of some sorts, valuing in the $10-15 million range.
The New York Yankees and Baltimore Orioles showed some interest in the left-handed at this year's July 31st non-waiver trade deadline. These two teams would have likely made a run at De La Rosa in the offseason, but now won't have the chance due to the contract extension.
Over eleven major-league seasons, De La Rosa has a career record of 83-67 and a 4.64 ERA in 249 appearances, 187 of which were starts. The yearly salary of $12.5 million for De La Rosa is similar to the likes of the deals that pitchers Matt Garza and Ubaldo Jimenez received in the offseason.