The deadline for the Rangers to sign Darvish is this afternoon at 4:00 p.m. Central. The Rangers bid $51.7 million for the rights to negotiate with Darvish. If an agreement with Darvish is reached, that money goes to the Nippon Ham Fighters, the Japanese League team which owns Darvish's rights. If an agreement is not reached, the Rangers would not pay the Ham Fighters anything, and Darvish's rights would revert to them, where he would pitch for the 2012 season.
There had been earlier reports that a sticking point in the negotiations had been the length of the deal, with the Rangers wanting to lock Darvish up for six years, while Darvish was asking for just a five year deal. The Rangers are expected to pay Darvish around $10-12 million per season over the life of the deal.