Per Richard Durrett, the Rangers and Brandon McCarthy have agreed on a one year deal for $1.32 million, thus avoiding arbitration.
T.R. Sullivan says that the Rangers are focusing on just doing one year deals with their other six arb-eligible players -- Dustin Nippert, Frank Francisco, Josh Hamilton, C.J. Wilson, Chris Ray, and Scott Feldman -- rather than attempting to do multi-year deals. This is, I would wager, in no small part due to the ownership situation, and that also means it is likely Francisco will be allowed to test the free agent waters this offseason.