The rich get richer: AL-leading Rangers sign Roy Oswalt

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Reports all day have said Roy Oswalt was close to choosing a new team and the Rangers were heavy favorites, and now Gerry Fraley of the Dallas Morning News writes that Texas has indeed signed the 34-year-old free agent.

Fraley quotes “an individual familiar with the process” as saying it’s a done deal.

Oswalt has been linked to the Rangers, Dodgers, Phillies, Brewers, Orioles, and Red Sox, but Texas gives him the best possible combination of a sure-fire contender, a locale close to his Mississippi home, and (presumably) the most money.

Oswalt gained leverage in recent days with Roy Halladay and Ted Lilly landing on the disabled list with shoulder injuries, and if he’s indeed signing with the Rangers he’ll step into the rotation spot created by Neftali Feliz’s sprained elbow. It’s unclear how much time Oswalt will need to be game-ready, but Feliz is expected to miss the remainder of the first half and could shift back to the bullpen once healthy.

For now Scott Feldman is filling in for Feliz, but Oswalt threw 139 innings with a 3.69 ERA and 93/33 K/BB ratio for the Phillies last season and if he can avoid a recurrence of back problems would be a major upgrade over Feldman.

UPDATE: Ken Rosenthal of FOXSports.com confirms Fraley’s initial report and says Oswalt’s deal is worth between $5 million and $6 million.

Braves sign reliever Will Smith to three-year, $39 million contract

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The Braves announced on Thursday that the club has inked lefty reliever Will Smith to a three-year, $39 million contract with a club option for the 2023 season worth $13 million. Smith received a qualifying offer worth $17.8 million from the Giants, so he opted for a lower average annual value for a longer contract.

Smith, 30, was an All-Star last season with the Giants, finishing with 34 saves, a 2.76 ERA, and a 96/21 K/BB ratio across 65 1/3 innings. Across parts of seven seasons in the majors, he has a 3.53 ERA.

Smith, the top free agent left-handed reliever, will join a strong Braves bullpen which already includes Mark Melancon, Shane Greene, and Sean Newcomb.