Rockies Release Elias Diaz, Promote Drew Romo

3:10pm: The Rockies announced that Diaz has been given his unconditional release. He’s a free agent who can sign with any club at any point. Romo’s contract has indeed been selected from Triple-A Albuquerque in his place.

Colorado also reinstated left-hander Lucas Gilbreath from the 60-day injured list. A spot on the 40-man roster was already cleared by yesterday’s outright of Josh Rogers. Gilbreath has been out since undergoing Tommy John surgery in March of 2023.

1:55pm: In place of Diaz, the Rockies are expected to select the contract of catching prospect Drew Romo, reports Thomas Harding of MLB.com. He’ll presumably slot into the Rockies’ primary catching role down the stretch and audition for a potential long-term gig behind the plate in Denver.

1:45pm: The Rockies are releasing catcher Elias Diaz, whom they placed on outright waivers earlier this week, reports Daniel Alvarez Montes of El Extra Base. Once he’s cleared release waivers, he’ll be free to sign with any club. The new team would only owe Diaz the prorated league minimum for any time spent on the big league roster or injured list. The Rockies will be on the hook for the remainder of this season’s $6MM salary.

That Diaz is slated to be released is an indicator that no other club was willing to take on his remaining $1.45MM salary (plus the $50K fee for placing a waiver claim). Colorado could’ve simply kept Diaz on the roster and attempted to waive him again later this month when he was owed less money, but it seems they’ll instead part ways with the veteran backstop entirely, granting him extra time to settle in with a contending club down the stretch. Diaz had been in the final season of a three-year, $14.5MM contract with the Rockies and is a free agent at season’s end anyhow, so the move to release him appears to primarily be about affording him the ability to latch on with a contending club while also clearing time for a look at Romo.

Releasing Diaz now will naturally raise questions as to why the Rockies didn’t move Diaz for even a modest return at last month’s trade deadline. It’s a fair gripe on the surface, although it stands to reason that if Diaz went unclaimed when he’d cost other teams around $1.5MM in total, there probably wasn’t a robust trade market for him when he was owed more money and the Rockies were seeking prospect value in return.

It’s still plenty arguable that the Rox should’ve sold high on him at last year’s trade deadline or perhaps in the offseason, but the Rox instead added some modest pieces and entered this year with visions of a more competitive club than they’ve ultimately fielded.

Diaz, 33, is hitting .270/.315/.378 on the season. That’s a solid-looking line, particularly for a catcher, though metrics like wRC+ (80) and OPS+ (88) feel he’s been below-average at the plate after adjusting for the Rockies’ hitter-friendly home environment. Either of those marks is passable for a backstop with solid defensive grades, however, and Diaz is just that. He’s delivered markedly improved framing grades in 2024 and been credited with plus marks in Defensive Runs Saved (5) and Outs Above Average (5).

Diaz has never been a plus hitter outside of a strong 2018 showing with the Pirates, but he owns a .254/.306/.406 line over the past four seasons, during which he’s averaged 17 homers per 162 games played. He’s not an elite catcher but is a serviceable option who’s had his share of big league success and experience. At the very least, he’s an upgrade over the backup option for many postseason hopefuls. And as long as he signs with a new club on or before Aug. 31, he’ll be eligible for his new team’s postseason roster.

As for the 22-year-old Romo, he was the No. 35 overall pick by the Rockies back in 2020 and ranked among the game’s top-100 prospects as recently as the 2022-23 offseason. He’s considered to be a glove-first catcher but has shown more offense in the upper minors across the past two seasons, including a quality .297/.339/.499 batting line in a very hitter-friendly Albuquerque setting this season (103 wRC+).

Scouting reports at FanGraphs, Baseball America and other outlets praise the switch-hitting Romo as a plus defender with a plus arm but well below-average power. FanGraphs’ Eric Longenhagen noted that Romo had some uncharacteristic throwing issues last year (19% caught-stealing rate), but he’s bounced back in a big way with a heartier 29% rate in 2024.

With Diaz released and fellow backstop Jacob Stallings also playing on an expiring contract, Romo ought to be given a full run as the team’s starting catcher. Colorado doesn’t have any other near-ready catching prospects — Hunter Goodman can catch some, but they’ve used him more in the outfield — and certainly doesn’t have another one with Romo’s defensive chops.

Romo and Goodman could potentially shoulder the workload behind the plate down the stretch, depending on what comes of Stallings, who’s hitting .266/.367/.457 in 216 plate appearances while playing on a one-year, $2MM contract. Speculatively speaking, if the Rox are comfortable with Goodman collecting more playing time behind the plate, they could make a similar move with Stallings to the one they’ve made with Diaz.