Rockies trade catcher Miguel Olivo to Jays for PTBNL
This comes as a bit of a surprise.
Tracy Ringolsby of FOXSports.com reported Wednesday that the Rockies declined catcher Miguel Olivo’s $2.6 million option for 2011 and that the veteran would enter this offseason as a free agent. That report was apparently incorrect.
Toronto will enter 2011 with a logjam of three catchers -- Olivo, Jose Molina and J.P. Arencibia. John Buck is a free agent and is expected to move on in search of a lucrative multi-year contract.
It seems likely that Olivo will be the starter, Molina will be the backup and the 24-year-old Arencibia will be shipped to Triple-A to start the season. If the youngster continues to make progress, the Jays can move Olivo for a prospect in July and shuffle the depth chart accordingly.