Rafael Betancourt has decided to undergo Tommy John surgery on his right elbow.

Betancourt had planned to try rehab for a torn UCL and then possibly retire if that doesn't work, but he told a Venezuelan radio show Thursday that he's changed his mind. "I took the decision last night, alongside doctors," Betancourt said on the radio show Los Cronistas. "They told me there was little chance of recovery with current treatment." Betancourt will turn 39 next April but thinks he can pitch for "a few more years" if his rehab goes well. He won't be ready until 2015.

Rafael Betancourt (elbow) hinted that he would rather retire rather than have Tommy John surgery.

Betancourt is dealing with a complete tear of the ulnar collateral ligament in his right elbow and will try platelet rich plasma treatment. If it doesn't work, the 38-year-old could walk away from the game. "They left it up to me whether to have surgery or not. I will see if this helps and allows me to throw again. If not.," said Betancourt.

Rafael Betancourt has been diagnosed with a torn ulnar collateral ligament in his right elbow.

The news comes as no surprise. Betancourt suffered the tear during Thursday's appearance and was placed on the disabled list the following day. The veteran reliever will be given a PRP injection before being re-evaluated, but Tommy John surgery is probably inevitable. His $4.25 million mutual option for 2014 won't be picked up, and given that he'll turn 39 just after Opening Day next year, it could be a career-ending injury.

Rockies placed RHP Rafael Betancourt on the 15-day disabled list with a right elbow sprain.

Betancourt suffered the elbow injury in Thursday's game and is scheduled to undergo an MRI to determine if there's any ligament damage. Rex Brother will take over as the Rockies' closer

Troy Renck of the Denver Post reports that "there is concern" that Rafael Betancourt tore his elbow ligament during an appearance Thursday.

He'll undergo an MRI on Monday, but it sounds like Tommy John surgery could be in the veteran reliever's future. The Rockies will obviously decline their side of the $4.25 million mutual option for 2014 on Betancourt. He will turn 39 just after Opening Day next year, so it could potentially be a career-ending injury. Rex Brother will take over as the Rockies' closer.

Rafael Betancourt left Thursday's appearance against the Phillies with a right elbow injury.

Betancourt blew his third save of the season by allowing two runs on two hits in two-thirds of an inning before being pulled. The malady is expected to send the closer to the disabled list. Rex Brothers will take over the ninth inning again while Betancourt is on the shelf.

FOX Sports' Ken Rosenthal reports that Rockies closer Rafael Betancourt has been placed on waivers.

Betancourt carries an inexpensive $4.25 million option for the 2014 season, so the Rockies probably aren't going to move him unless they get something in return. The veteran right-hander has posted a 3.54 ERA, 1.25 WHIP and 27/11 K/BB ratio in 28 innings this year.

Rafael Betancourt suffered his second blown save of the season against the Phillies on Wednesday.

A day after closing out the Phillies with a perfect ninth, Betancourt was only able to record one out before Michael Young knocked in the winning run. In total, Betancourt gave up three hits -- including two doubles -- and a walk. It was a meltdown, but it shouldn't affect his standing with the club going forward.

Rafael Betancourt earned his first save since returning from the disabled list, and 16th overall, against the Phillies on Tuesday.

The Rockies showed faith in Betancourt by restoring him to the closer role upon his return, and he's rewareded them with two scoreless innings since his activation. The closer is now 16-of-17 in save chances and has a 2.93 ERA in 27 2/3 innings this year.

Rockies activated RHP Rafael Betancourt from the 15-day disabled list.

Betancourt wound up missing close to a month following a late-July emergency appendectomy. He's expected to take back over at closer and could be dangled as a waiver trade candidate through the end of this month. The 38-year-old holds a $4.25 million option for 2014.

Troy Renck of the Denver Post reports Rafael Betancourt met with manager Walt Weiss on Friday and declared himself ready to resume closing.

The Rockies will be forced to move Rex Brothers into a setup role for now, though Betancourt is likely to be placed on waivers and remains a candidate to be traded this month. The 38-year-old right-hander has dealt with various injuries this season and is due a $4.25 million option in 2014.

Rockies skipper Walt Weiss indicated Friday that he'll talk to Rafael Betancourt before he's activated on Saturday to gauge where he's at mentally.

If Betancourt declares himself ready to resume closing, which is anticipated by Weiss, then he is expected to resume his closing duties immediately. That would force Rex Brothers back into a setup role, severely decreasing his fantasy value in most formats. Betancourt is still a candidate to be dealt before the end of August however, so it isn't time to cut bait on Brothers just yet.

Rockies manager Walt Weiss said he's undecided on whether Rafael Betancourt (appendicitis) will regain his closer job or pitch in a setup role.

Rex Brothers has pitched well in the ninth and might keep the gig. Weiss noted that how Betancourt fares in his rehab appearance will be a factor, and that's good news for Brothers, as the righty gave up a run on two hits Thursday for Triple-A Colorado Springs. Betancourt will be activated from the DL prior to Saturday's game.

Rafael Betancourt (appendicitis) is on track to return from the disabled list on Saturday.

Betancourt will make one rehab appearance with Triple-A Colorado Springs on Thursday, take Friday off and then be activated Saturday. Rex Brothers has struggled a little of late, so Betancourt shouldn't have trouble regaining his closer gig.

Rafael Betancourt (appendicitis) threw 30 pitches in a simulated game Monday.

Betancourt will make a minor league rehab appearance Thursday with Triple-A Colorado Springs and hopes to come off the disabled list Friday. The veteran right-hander has been out since mid-July following an emergency appendectomy.

Rafael Betancourt (appendicitis) will throw a simulated game as soon as Monday.

Betancourt has thrown a couple bullpen sessions over the last week with no issues. Out since late July following an appendectomy, he'll likely require a rehab assignment before returning.

Rafael Betancourt (appendicitis) threw a bullpen session Friday.

Betancourt is still in recovery mode following an emergency appendectomy last month. The veteran reliever has lost about eight pounds since then, so he's still in the process of regaining his strength. Look for him to rejoin the Rockies later this month.

Rafael Betancourt (appendicitis) could throw a bullpen session Friday.

It will be Betancourt's first time throwing from a mound since being placed on the disabled list. The 38-year-old right-hander is on track to return in mid-August.

Rockies owner Dick Monfort said the team has yet to decide whether to pick up Rafael Betancourt's $4.25 million option in 2014.

Betancourt has a 3.16 ERA and 15 saves for the Rockies, but has struggled to stay healthy and is currently on the 15-day disabled list. With Rex Brothers proving capable of taking over the closer role, he could be viewed as expendable this offseason. The 38-year-old right-hander could also be a candidate for an August trade, but will need to be placed on revocable waivers.

Rockies placed RHP Rafael Betancourt on the 15-day disabled list with appendicitis.

The disabled list stint is retroactive to July 15 and Betancourt should be ready to return when first eligible. Rex Brothers is going to serve as the Rockies' closer in Betancourt's absence and is a must-own in standard formats for the 10-or-so days that he is in the ninth-inning role. Mitchell Boggs was recalled from Triple-A in a corresponding move to provide middle relief depth.