Report: Angels, Rangers agree on Josh Hamilton trade

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Update #5 (8:21 PM EST): Bob Nightengale of USA TODAY reports that Hamilton is giving up some money to make the trade work. The lack of state taxes in Texas makes this work. Nightengale adds that the Angels would still be on the hook for about $68 million.

Update #4 (7:18 PM EST): Jeff Passan of Yahoo Sports reports that the Rangers are expected to cover $15 million of the $83 million remaining on Hamilton’s contract. That means the Angels cover $68 million.

Update #3 (7:12 PM EST): Jon Heyman of CBS Sports reports that the two sides have reached an agreement. They’re now just hammering out some ancillary details.

Update #2 (6:35 PM EST): Jon Morosi of FOX Sports hears from a source that Hamilton is in Houston now and is expected to begin full baseball activities with the Rangers next week if the trade with the Angels is finalized.

Update (6:05 PM EST): MLB.com’s T.R. Sullivan reports that the Rangers are “close” to trading for Hamilton. If it is completed, the deal will likely be announced on Monday.

Sports Illustrated broke the news that the Angels are expected to part ways with outfielder Josh Hamilton. Ken Rosenthal of FOX Sports is hearing the same from his sources. Hamilton will be moved to another team via a trade, Rosenthal adds.

Given everything that has transpired since Hamilton had a relapse with drug use, this is not a particularly surprising piece of news. Owner Arte Moreno, GM Jerry DiPoto, and manager Mike Scioscia each made public comments critical of Hamilton, a sign the team had had enough.

Hamilton, 33, has three years and $83 million remaining on his contract. The financial aspects of the deal are not yet known. Hamilton is currently sidelined, recovering from offseason shoulder surgery.

We’ll have more on this as it develops.