THURSDAY, 8:46am: Jeff Wilson of the Fort Worth Star-Telegram has a bit more. He says the Rangers are aiming to buy out at least one year of free agency, and will probably use the contracts given to Ian Kinsler and Hank Blalock as guidelines.
WEDNESDAY, 4:36pm: According to T.R. Sullivan of MLB.com, the Rangers presented a contract offer to Josh Hamilton and his agent. Hamilton was "disappointed" with the proposal.
Sullivan notes that Hamilton is already under team control through 2012, and is believed to be seeking "a deal in the 4-6 year range with possible options." Hamilton will be arbitration-eligible for the first time after this season.