The Rangers and Rockies have been discussing the five-time All-Star for the last month. In order to land Arenado, Texas is willing to take on all of the $234 million left on his contract, which has seven years remaining, Evan Grant of the Dallas Morning News reports. Arenado will earn $35 million annually from 2020-24, $32 million in 2025, and $27 million in '26.
But before completing a deal and eating the money, Texas would want Arenado to defer the opt-out clause in his contract, according to Grant. Right now, he can opt out after the 2021 season.
Arenado would also reportedly have to waive his no-trade clause in order to move to Texas.
While the Rangers are willing to relieve Colorado of any salary commitments to Arenado, the Rockies are more concerned with netting a quality return in order to remain contenders, according to Grant. Texas isn't viewed as the favorite to land him right now, sources told Morosi.
If the Rangers are ultimately successful in landing Arenado, he'd push Frazier across the diamond to first base. Frazier, like Arenado, is a natural third baseman but has played 97 games at first over his career, whereas Arenado has never played another position.
Other teams said to be in pursuit of Arenado include the St. Louis Cardinals and Atlanta Braves.
The pursuit of Arenado and the signing of Frazier are far from the only irons in Texas' oven right now. The Rangers are reportedly one of the finalists to sign outfielder Nicholas Castellanos, who has shown a willingness to play first base with Texas if necessary, Grant reports.