UPDATE: Phillies acquire Michael Young from Rangers

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UPDATE: The deal is done, according to USA Today’s Bob Nightengale. Young, the Rangers’ all-time leader in hits and games played, has been traded to the Phillies.

Nightengale hears that Young agreed to the deal after receiving $1.2 million in benefits from the Rangers and a full no-trade clause from the Phillies. The Rangers agreed to pay about $10 million of Young’s $16 million salary for 2013, so it’s a relatively low-risk gamble for Philadelphia. Still, that’s a pretty old infield.

1:20 PM: Evan Grant of the Dallas Morning News reports that Young has “indicated a willingness” to accept a trade to the Phillies. However, the deal is not finalized because some of the financial aspects still need to be worked out.

Young is expected to get some form of compensation for waiving his full no-trade clause while MLB must approve the salary (more than $10 million, says Grant), being covered by the Rangers. But it sounds pretty close to being done. Grant hears that the Phillies will send reliever Josh Lindblom and prospect right-hander Lisalverto Bonilla to Texas.

10:28 AM: Michael Young has been taking his time to decide whether to waive his no-trade clause and accept a trade to the Phillies. But it appears that he has come to a decision.

T.R. Sullivan of MLB.com was told by industry sources that Young is expected to OK the deal and that the trade could go down as soon as today. The 36-year-old was expected to have a diminished role with the Rangers in 2013, so it makes for a pretty easy baseball decision, but Jeff Passan of Yahoo! Sports hears that the biggest consideration was his family.

Young batted .277/.312/.370 with eight home runs, 67 RBI and a career-low .682 OPS this past season and is expected to take over as the Phillies’ starting third baseman in 2013. The Rangers will reportedly cover at least half of Young’s remaining $16 million salary, as well as receive a reliever and prospect in return.

The Giants might be ready to part ways with Hunter Pence

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Alex Pavlovic of NBC Sports Bay Area hints that the Giants may be done with outfielder Hunter Pence. It’s not clear just how seriously the club is contemplating such a decision, but there are six days remaining on Pence’s rehab assignment, at which point they’ll be able to recall him, reassign him to the minors or release him.

The 35-year-old outfielder has struggled to make a full recovery after spraining his right thumb during the first week of the season. Pence bounced back for a 17-game run with the Giants in April, during which he slashed a meager .172/.197/.190 with one double and one stolen base in 61 plate appearances, but was eventually placed on the disabled list with recurring soreness in his finger. He currently sports a promising .318/.359/.388 batting line with four extra-base hits (including a grand slam) over 92 PA in Triple-A Sacramento.

Despite his recent resurgence in Triple-A, the Giants may not need the additional outfield depth just yet. Mac Williamson, who was recalled in the wake of Pence’s DL assignment, has already cemented the starting role in left field and is off to a strong start at the plate as well. Of course, if the Giants decide to say a premature goodbye to their veteran outfielder (who, it should be said, helped them to two World Series championships over the last seven seasons), it’ll cost them the remaining balance on his $18.5 million salary for 2018.