According to various reporters on Twitter, the Rangers and Yu Darvish have reached an agreement on a contract, which means Darvish will be in a Ranger uniform for the 2012 season.
Darvish, a 25 year old righthander who has dominated in Japan the past several years, is expected to be part of the Rangers' rotation this coming season, with the Rangers having bid heavily on him in the belief that he can potentially be a legitimate number one starter in the major leagues.
There are no details as to the contract terms, although reports as of late are that it is expected to be a five year deal with a sixth year player option. When contract terms are available, this will be updated.
The Rangers won the bidding for the exclusive rights to Darvish with a bid of $51.7 million, which will now be paid to Darvish's Japanese League team, the Nippon Ham Fighters.
UPDATE -- It is reportedly a 6 year, $60 million deal.