It appears the Rangers are adding a pitcher, and once again, it appears the Rangers are signing someone who didn't even appear to be on their radar...
T.R. Sullivan says that the Rhodes deal is a one year contract with a vesting option, which means that it will be hard for it to be a bad deal. Sullivan also writes in the same piece that the Rangers are still pursuing Brandon Webb and Vladimir Guerrero, among other options, and has this to say about the team's pursuit of Zack Greinke:
The Rangers, by all accounts, did press the Royals on Zack Greinke before he was dealt to the Brewers. There were suggestions that Royals general manager Dayton Moore wanted to send Greinke to the National League, but it is also true that the Rangers weren't willing to give up the crown jewels of their farm system in any deal. The Rangers also didn't have the up-the-middle players wanted by the Royals, who snagged a shortstop and a center fielder in the deal with the Brewers.
We've been -- or at least, I've been -- assuming that the last part is what the hang-up has been, but if Sullivan is correct, then the bigger problem may have been the team's unwillingness to include Martin Perez, Tanner Scheppers, or Jurickson Profar in a deal. If so, that means that the Rangers' offer would have likely have been something like Derek Holland and one or two other minor league pieces...and if that is the case, then I think you have to question whether the Rangers were really all that serious about Greinke in the first place.
In any case, the addition of Rhodes means that, as things stand now, the Rangers' bullpen consists of Neftali Feliz as the closer, Alexi Ogando and Frank Francisco as righthanded setup men, Arthur Rhodes and Darren Oliver as lefthanded setup men, and Mark Lowe and Darren O'Day as middle relievers. There's no long reliever, and guys like Yoshinori Tateyama, Pedro Strop, Clay Rapada, Guillermo Moscoso, Mason Tobin, Zach Phillips, and Michael Kirkman are all hanging around on the outside as well.
This seems, to me, to make it a lot more likely that Feliz or Ogando will end up getting a legit shot at making the starting rotation. At this point, the Rangers have a whole lot of options in the bullpen, but even if they sign Webb, are shorthanded when it comes to starting pitching depth. Feliz or Ogando moving to the rotation would definitely help shore that up.