Philadelphia and Texas have yet to formally announce the deal, but Nightengale is reporting that the deal is done, and that it will be officially announced later Saturday afternoon.
The Rangers are covering over $10 million of Young's $16 million salary in 2013, according to Evan Grant. In exchange for Young and the cash, the Rangers will receive relief pitcher Josh Lindblom and prospect Lisalverto Bonilla.
Lindblom spent time with the Los Angeles Dodgers as well as the Phillies in 2012, and made 74 appearances between the two teams. Lindblom went 3-5 with a 3.55 ERA and 1.35 WHIP, while recording 22 hold and striking out 70 in 71 innings of work.
Young had the worst year of his career in 2012, but since the Rangers will cover better than 60 percent of his 2013 salary, the Phllies are willing to roll the dice that the former All-Star will return to form. Young hit just .277/.312/.370 in 2012, with a fWAR of -1.4.
As part of the deal, the Phillies have granted Young a full no-trade clause, since his 10-5 rights disappear after the trade. Young also received $1.2 million in benefits.