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Jon Heyman with a tweet on the details of the Roy Oswalt deal with the Rangers:
oswalt got $5M guaranteed (not pro-rated) plus $1M incentives, as @ScottMCBS reported. @gfraley had agreement 1st
— Jon Heyman (@JonHeymanCBS) May 29, 2012
Oswalt says he'll be ready in a month, which means that the Rangers will be paying him $5-6 million for a half-season's worth of pitching.
There was some talk that the Rangers were already over budget and that they had to get ownership approval for the additional dollars that are going to Oswalt, but it may be that the sellout crowds we've been seeing so far this season means that the anticipated gate revenues have been revised upwards, allowing the Rangers to increase what they are spending this year.
Or it could be that the Rangers figure the Jairo Beras contract isn't going to get approved, and are re-allocating his $4.5 million towards Oswalt.