Update: Murphy's contract is worth $12 million over two years and contains a team option for a third season. The deal was finalized on Monday, November 25.
The original tip on the story came from Jamie Kelly, who reported earlier Tuesday that Murphy informed his daughter's day care that he was signing with the Indians.
Murphy, 32, has been with the Rangers since a mid-season trade from Boston in 2007 and has seen time in at least 120 games each of the last five seasons. He has a career 778 OPS, but suffered through his worst career year in 2013 when he hit .220/.282/.374 with 13 home runs.
The Indians currently are already returning all three of their 2013 outfield starters with Michael Bourn in center and Drew Stubbs and Michael Brantley on the corners. Brantley's 728 OPS was tops among the three, though Bourn's big contract means he will remain a full-time starter.
The Rangers may be thinking about using Murphy in a platoon with Stubbs. Murphy, a lefty, has an 816 OPS against right-handed pitchers over his career while Stubbs has hit much better against left-handers over his career.