Signing DLR would solidify the Rockies' rotation for the 2011 season, and take a lot of the uncertainty out of the Free Agent market for Colorado.
With Javier Vazquez, Jake Westbrook, Hiroki Kuroda, and Jon Garland gone from the market, the Rockies were scrambling to look for a 5th member of a questionable rotation.
De La Rosa was looking for a 4 or 5 year deal, but apparently Dan O'Dowd's negotiating tactics were more than Paul Cohen could handle.
Thomas Harding is reporting that the deal is "expected", but we're still awaiting further confirmation and/or terms.
Update: Ken Rosenthal is reporting the deal will be a 3-yr deal for $32M-$33M.