Earlier today it was reported by MLB.com that the Rockies were close to making a deal for a right-handed reliever, and now we have our answer.
Betancourt has spent all seven of his major league seasons with the Indians, and this year he is 1-2 with a 3.52 ERA in 30.2 innings pitched.
Graham is a six-foot-six right-handed starter who is 7-4 on the year with a 3.14 ERA in 16 games started for Class-A Modesto. John Sickels of Minor League Ball has Graham rated as the Rockies fifth best prospect, and he says he has "Excellent Potential, but walk rate is too high."
This is a nice pickup for the Rockies. They get a reliever in Betancourt who can help their major league team today, and give up a young pitcher who likely doesn't figure to factor into the picture for at least three or four years.