Gonzalez gives the Rangers their much-sought-ever second lefty for the bullpen. Gonzalez was a closer with the Pirates who was sent, along with Brent Lillibridge, to the Atlanta Braves for Adam LaRoche before the 2007 season. Gonzalez also was with Boston for about a week in 2003 as part of the Brandon Lyon trade/non-trade.
Gonzalez is in the final year of a 2 year, $12 million deal, and I suspect that the Orioles may be picking up a chunk of the salary. The Rangers are reportedly sending a player to be named later to Baltimore for Gonzalez, and I don't imagine it will be a prospect.
Gonzalez's numbers are underwhelming, but he has a .211/.253/.322 line against lefties this year, and he's picked it up in August.
The deal for Treanor is for a player to be named later or cash.
To make room on the 40 man roster for each player, the Rangers have designated Tim Wood for assignment and have recalled Wilmer Font and put him on the 60 day disabled list, which will make Font roughly $62,000 for a month in the big leagues.
Neither Gonzalez nor Treanor will report until tomorrow, so there will be no need to clear a 25 man roster spot. Each player will be eligible for the postseason.
UPDATE -- The PTBNL in the Gonzalez trade is reportedly righthanded reliever Pedro Strop. Strop has an electric arm but has never shown the consistency necessary to stick in the major league bullpen. He's out of options after 2011, and almost certainly wasn't going to make the team out of camp in 2012, so this is a case of getting something for him rather than just losing him on waivers.
Making Strop a PTBNL could be so that he can be put through trade waivers, since we are past the 7/31 non-waiver trade deadline. And since Baltimore has the worst record in the A.L., they can put in a claim and get him in 48 hours.