Rockies Trade Miguel Olivo to Blue Jays, Who Decline His 2011 Option

by FanHouse Staff

Filed under: Blue Jays, Rockies

Over the course of a few hours Thursday, Miguel Olivo was employed by two different teams, but he ended the night as a free agent.

Late Thursday, the Rockies traded the catcher to the Blue Jays for a player to be named or cash considerations. By dealing Olivo before a midnight deadline to pick up his 2011 option, the Rockies no longer were responsible for either his $2.6 million option or the $500,000 they would have owed him to buy it out.

So it will be the Blue Jays paying him that half million after they declined Olivo's options shortly after the trade was officially completed. For their trouble, the Jays will get a supplemental pick in next summer's draft if Olivo signs elsewhere, as he is a Type B free agent.

For his part, Olivo never even wanted to leave Colorado. But at least he didn't have to go to the trouble of finding a place to live in Toronto.

 

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