According to Evan Grant of the Dallas Morning News, the Texas Rangers are close to signing lefty Derek Holland to a contract extension that would lock him up through the 2016 season, at the least. The first year of a possible contract extension would essentially replace the one-year deal he signed weeks ago.

Holland, 25, is arbitration eligible from 2013 to 2015, and is set to hit free agency thereafter.

• Sources: Rangers on verge of signing LHP Derek Holland to extension | Texas Rangers Blog | Sports News | News for Dallas, Texas | The Dallas Morning News
  "According to two major league sources, the Rangers are on the verge of signing lefty Derek Holland to a deal for at least five guaranteed years. The deal will supersede the one-year deal Holland agreed to at the start of spring training and would carry through at least the 2016 season. As it stands now, Holland, 25, would be eligible for free agency after 2015."