Richard Durrett has the terms. If the reports about Rich Harden agreeing with Texas are true, this deal presumably had to be official for the signing to happen.

Wow, Adam picked quite a day to be in court all day. 

As noted in the comments below, NBCsports.com is reporting this, a one year deal for $7.5 million. I'm very psyched about this prospect, as I'm sure most Rangers fans would be.

UPDATE: More sources seem to be saying Harden to the Mariners than the Rangers right now. Will be interesting to hear how this all played out once it's over.

The Baltimore Sun says that the Orioles "have a deal in place" to acquire Kevin Millwood for closer Chris Ray. Ray was pretty horrible last year as he's tried for a couple of years to return to top form after elbow ligament replacement surgery in 2007. Ray has two more arbitration years, 2010 and 2011, before free agency.

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Richard Durrett summarizes the status of the Rangers' agenda, which seems to include finding a veteran catcher, bringing in a veteran reliever or maybe even two, and continuing to explore a trade of Kevin Millwood that would free up some cash. 

Evan Grant has blog updates on Jorge Cantu and more on the option that Nolan Ryan and Chuck Greenberg have presented Tom Hicks with a week left to decide the club's fate.

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The big Rangers story this morning is still Tom Hicks attempting to hang onto the Rangers by constructing a new local ownership group. His favorite buzz word here appears to be "local." Evan Grant lays out Hicks' thought process, and one of Hicks' comments here is that he has been working on this for a while:

"I have initiated my own process," Hicks said Wednesday. "I want to have other local prominent families involved in a group that would own the team and sizable commitments have been made. This would allow us to have continuity on the plan that we started five years ago. This process has never been about wanting to sell the Rangers. It has been about finding a way to monetize our assets to retire most, if not all, of the debt."

Richard Durrett considers the question of why Hicks is going through the process of collecting bids if he intends to keep the club after all. I have to think that he'd be doing it for the benefit of MLB owners. 

Gil Lebreton discusses that angle as well and suspects that other owners aren't going to see Hicks as a great candidate moving foward. 

T.R. Sullivan discusses the start of free agency tonight and looks at what the Rangers might do if they lose Marlon Byrd, as well as their approach on the pitching front.