But as a member of the Texas Rangers. Four year deal with an option.
I'd expect TR Sullivan to be sure about it before reporting it, so consider it a done deal. No financials have been released, but before getting bent out of shape if he signed a deal worth less than the one the Mariners "reportedly" offered him, keep in mind that Bavasi never acknowledged that Seattle was targeting him.
Update: It's a five-year deal worth $60m. Apparently, the Rangers can void the last year if he doesn't hit a specific number of innings. No way did I think AJ Burnett would be the silver medal this offseason.