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The Colorado Rockies signed free agent veteran reliever Brad Hand to a one-year, $2 million contract on Saturday, according to The Athletic's Ken Rosenthal.
The deal includes a $7 million club option for 2024 or a $500K buyout; Hand's salary for next season will be $1.5 million. A buyout would bring his guaranteed salary for 2023 to $2 million, per Rosenthal.
Another $1 million bonus is available for the veteran if he is still in the organization by Opening Day, meaning either the active roster or the injured list. The 32-year-old is represented by the Wasserman Agency.
Right handed pitcher Tyler Kinley will be placed on the 60-day injured list to create the necessary roster space to sign Hand, according to MLB.com's Thomas Harding. He will be out of action until at least the middle of the season after undergoing elbow surgery last June.
“The club option also gives Colorado some control over Hand’s future if he does fully regain his past form. Hand was one of the better relievers in the sport when pitching with San Diego and Cleveland from 2016-20, and naturally the Rockies saw him often back in his Padres days,” wrote Mark Polishuk of MLB Trade Rumors on Saturday. “The Rockies could keep at least one pitcher in the fold by exercising Hand’s option, if he pitches well enough to make that $6.5 million decision a wise one for the Rox.”
Brad Hand has spent 13 seasons in Major League Baseball for eight different teams before joining the Rockies; he signed a one-year, $6 million deal with the Philadelphia Phillies last winter and contributed to the team's push to winning the NL Pennant.
He delivered a 2.80 ERA over 45 regular-season innings and a 4.76 ERA in 5 2/3 postseason frames last year.
