The Texas Rangers have picked up their 2016 option on Adrian Beltre, ensuring that he will be under contract for the 2016 season.
The Rangers originally signed Beltre to a 5 year, $80 million deal that included a vesting option for the 2016 season at $16 million. Jon Daniels had previously indicated that the team did not want that option year to be a distraction during the season, and this makes it official that Beltre will not be a free agent until after the 2016 season.
I had speculated that the Rangers maybe hadn't simply exercised the option because there were ongoing negotiations on a contract extension beyond 2016. This obviously doesn't foreclose the possibility of an extension, but that's apparently not being done in connection with the option being picked up.
UPDATE -- Per Jon Heyman, in conjunction with this deal, Adrian Beltre is reducing his salary for 2015 to $16 million (from $18 million), and increasing his 2016 salary to $18 million from $16 million.