Update (6:18 EST): According to Yahoo! Sports' Jeff Passan, infielder Luis Sardinas, right-handed pitcher Corey Knebel, and right-hander Marcos Diplan are all heading to Milwaukee in the deal.
The Texas Rangers and Milwaukee Brewers are apparently close to a trade that will send right-hander Yovani Gallardo to Texas, as the New York Post's Joel Sherman reports that a deal has been agreed to "in principle", with the clubs currently engaging in medical reviews. MLB Daily Dish's Chris Cotillo initially reported that the Rangers were on the verge of adding a starter, while FOX Sports' Ken Rosenthal and Jon Morosi were the first to report that a deal between Texas and Milwaukee was close to fruition.
The players that the Brewers will receive in return for Gallardo are still in question. Morosi reports that infielder Jurickson Profar is not among the players headed to Milwaukee, though it would be unlikely that he would in the first place due to Gallardo being strictly a one-year rental. Rosenthal has also noted the possible inclusion of infielder Luis Sardinas, who the Rangers have apparently offered in several deals this offseason.
Gallardo fits in well with the Rangers, giving them a reliable innings-eater to slot in behind Yu Darvish and Derek Holland. The Rangers were in need of some rotation stability, as both Matt Harrison and Martin Perez are recovering from injuries and are unlikely to return before mid-season, while the trio of Colby Lewis, Ross Detwiler, and Nick Tepesch isn't exactly inspiring. As it stands, Texas will likely run out a rotation of Darvish, Holland, Gallardo, Lewis, and Detwiler in 2015.
While Gallardo is set to hit free agency next offseason, the Rangers may also view him as a potential extension candidate, and may feasibly have an advantage in re-signing him, as Gallardo attended high school close by in Forth Worth.
For the Brewers, the immediate ramification of this deal is a clearing of salary and opening up of a spot in the rotation for the well-regarded Jimmy Nelson. Of course, as Tom Haudricourt of the Milwaukee Journal Sentinel speculates, the move could be a precursor towards a more significant acquisition, such as signing James Shields or trading for Jordan Zimmermann, who may be displaced following the Max Scherzer signing. It may also be worth noting that the Brewers have made significant rotation additions late in each of the past two offseasons, signing Kyle Lohse in March of 2013, and Matt Garza last January.
The 28-year-old Gallardo has been a model of consistency for the Brewers outside of a somewhat tumultuous 2013 campaign. For his career, he owns a 3.69 ERA (109 ERA+), 3.71 FIP, 8.6 K/9, 3.3 BB/9, and 15.8 WAR, averaging a 2.1 WAR and 192 innings over the past six seasons. Last season, he posted a 3.51 ERA (108 ERA+), 3.94 FIP, 2.70 K/BB, and 2.4 WAR in 192.1 innings pitched.