Evan Grant has a blog post up saying that the Rangers are on the verge of signing free agent righthander Derek Lowe.

Grant writes that, while it is a minor league deal, Lowe would "almost certainly" make the team in a swingman role.

Lowe, who turns 40 on June 1, split last season between Cleveland and New York, starting with the Indians and posting a 5.52 ERA, and then relieving with the Yankees and posting a 3.04 ERA.

Lowe is a sinkerballer whose style is considered a good fit for the Rangers, given their stellar infield defense and the homer-friendly nature of TBiA.

Lowe's last season with an ERA+ of 100 or better was in 2008, but as a cheap long man/spot starter, you could probably do worse. Lowe gives the Rangers a veteran option that Ron Washington and Mike Maddux would seem likely to have some level of trust in.

UPDATE -- Grant just tweeted that the Rangers and Lowe have agreed to a deal.