The Rangers appear to be closing in on a deal with free agent left-hander Arthur Rhodes, according to Jon Heyman of SI.com (on Twitter). The 41-year-old put together a strong season in 2010, making his first All-Star team. He posted a 2.29 ERA with 8.2 K/9 and 2.9 BB/9 in 55 innings out of the 'pen.
The Reds have expressed some interest in bringing Rhodes back, but do not seem close to a deal. The Red Sox and Phillies have also been linked to Rhodes this offseason.
The Reds did not offer Rhodes arbitration, so the Rangers would not have to surrender a draft pick to sign him. Rhodes and 40-year-old Darren Oliver would give the Rangers a potentially effective, but undeniably old pair of lefties out of the 'pen.