Grant: Rangers, Derek Holland close on five year deal

Evan Grant writes at the DMN blog that two major league sources are telling him that the Rangers and Derek Holland are on the verge of a five year contract that would lock up Holland through the 2016 season.

There were reports earlier in the offseason that the Rangers were making progress on a deal with Holland, although nothing ended up happening at that time.

No financial details are provided, although Grant says that this deal would supersede Holland's existing 2012 contract for $504,700.

An off-the-cuff guess is that this would be a $26 million deal, with Holland getting $1 million in 2012, $3 million in 2013, $5 million in 2014, $7 million in 2015, and $10 million in 2016 (which would otherwise be his first free agency year).

Holland is expected to be the Rangers' #2 starter, behind Colby Lewis, at the beginning of the year, after a solid 2011 campaign that included a very strong second-half of the season.