Seems strange that the club (specifically, Jim Tracy) is preaching the fact that they haven't lost confidence in Chris Iannetta, yet they're about to make this move. I guess it doesn't hurt, though - it looks like they'll only offer him a minor league deal. We'll keep you updated.
According to Ed Price of AOL FanHouse (thru Twitter/MLB Trade Rumors), the Rox have declined Rafael Betancourt's $5.4 million option.
The club is apparently still trying to work out a deal. We'll be keeping an eye on this up until December, when the Rockies will decide whether or not to offer arbitration.