UPDATE II: Via Jeff Wilson, Nathan will earn $7 million in 2012 and 2013 while the contract includes a $9 million club option for 2014 or a $500,000 buyout.
UPDATE: Jeff Wilson of the Fort Worth Star-Telegram reports that Nathan is guaranteed $14.5 million over the length of the contract, including the buyout for the option year.
Meanwhile, Evan Grant of the Dallas Morning News reports that Feliz has been informed he will indeed make the move to the starting rotation.
8:07 PM: In a move that likely indicates Neftali Feliz is headed to the starting rotation next season, T.R. Sullivan of MLB.com reports that the Rangers have signed Joe Nathan. Full details aren’t yet known, but Evan Grant of the Dallas Morning News reports that he will receive a two-year contract with an option for a third year.
Nathan, who turns 37 tomorrow, made his way back from Tommy John surgery this season and posted a 4.84 ERA, 14 saves and 43/14 K/BB ratio over 44 2/3 innings. The veteran right-hander pitched much better when he regained the closer’s role from Matt Capps following the All-Star break, posting a 3.91 ERA and 22/5 K/BB ratio over 23 innings.
While the Rangers waffled on the situation earlier this year, they have said that they want to make a decision Feliz’s status going into spring training, so this would presumably set the stage for him to make a permanent move to the starting rotation.