The Rangers have agreed to a one year contract with outfielder David Murphy worth $5.775 million. This is Murphy's last arbitration year, and he is scheduled to become a free agent after the 2013 season.

With this agreement, the Rangers have reached deals with all their arbitration-eligible players.

Based on Cots' numbers, the Rangers' payroll obligations are now at $117,375,000 for 2013. That's before dealing with any of the ten or so slots on the active roster that will be filled with pre-arbitration players who will be making little more than the minimum salary of $400,000490,000. Even so, those players will push the team's Opening Day payroll to over $120 million -- and that's assuming the Rangers don't trade for Justin Upton or sign a free agent like Kyle Lohse or Michael Bourn.

According to Cots, the Rangers' Opening Day payroll in 2012 was $120,836,000. Opening Day payroll in 2011 was $92,124,290.