2:01 p.m. EST: Jon Heyman is reporting that not only will the deal get done, but the deal is expected to be for 6 years.
12:49 p.m. EST: Well, looks like the optimism is back. The Rangers and Darvish are now close to completing a deal, as reported by Jon Paul Morosi of FOX Sports. He notes that the two sides are still working out some details, but progress is being made.
12:45 p.m. EST: The Texas Rangers and starting pitcher Yu Darvish have until 5 p.m. EST today to reach an agreement on a new contract. If the two sides fail to do so, Darvish will return to Japan for the 2012 season and the Nippon Ham Fighters will not receive the $51,703,411 posting fee that the Rangers agreed to pay a month ago.
Unfortunately, the Rangers' optimism regarding getting a deal done before the deadline has waned, according to T.R. Sullivan of MLB.com.
The two sides negotiated late into the night and there are definitely still some differences that have cooled the Rangers optimism. Will it get done? Probably. But the feeling at the Ballpark is it is no longer a sure thing.
If the Rangers fail to complete a deal with Darvish, there is the possibility that they'll pursue first baseman Prince Fielder as an alternative. They would certainly have some money to play around with if Darvish doesn't end up coming to Arlington.