Colorado Rockies manager Jim Tracy resigns

Colorado Rockies manager Jim Tracy has resigned and will not stay on with the organization in any capacity, the team has announced:

The #Rockies announced today that Manager Jim Tracy has resigned. The resignation of Tracy is effective immediately.

— Colorado Rockies (@Rockies) October 7, 2012

Tracy -- who just completed his fourth year as Colorado's manager -- had an informal agreement with the club that would have kept him in his position through 2013, but meetings in recent weeks hinted that the Rockies did not want to hold to that agreement. Tracy's resignation helps the organization save face by not officially backing out of their handshake deal.

After a stellar first year in Colorado in 2009 led the club to a Wild Card berth and earned Tracy the NL Manager of the Year award, things have gone perpetually downhill for the organization. The Rockies have dropped nearly ten wins a year over the last four seasons, winning 92, 83, 73 and a franchise-worst 64 this year.

The Rockies will likely look in-house for a managerial replacement before widening their search, making bench coach Tom Runnells and Triple-A manager Stu Cole strong candidates for the position, according to Troy Renck of the Denver Post.