Rangers agree to 1-year, $5 million deal with Roy Oswalt

Oswalt picked the Rangers, despite better offers, to play for Nolan Ryan. (AP)

Roy Oswalt has signed with the Rangers, CBSSports.com Insider Jon Heyman confirms. CBSSports.com senior writer Scott Miller reports the deal is for one year worth $5 million, with another $1 million in incentives.

Oswalt, 34, was 9-10 with a 3.69 ERA with the Phillies last season, but had two stints on the disabled list with a back issue.

According to Miller, Oswalt received better offers from the Dodgers, Cardinals and Phillies, but chose the Rangers to play for team president Nolan Ryan. The Red Sox and Tigers made offers to him in the offseason, but Oswalt chose to wait for the season to start to land in either Texas or St. Louis.

Oswalt had said he wanted to return to the mound by June 15, but that may be a bit optimistic for someone who hasn't pitched since last season. Fraley reports that Oswalt will make "a few" minor-league starts before joining the Rangers' rotation.

Oswalt spoke to the Rangers in the offseason, but at that time their rotation was full. Since then Neftali Feliz went on the DL with an elbow injury and was replaced in the rotation by Scott Feldman, the team's long reliever.

Gerry Fraley of the Dallas Morning News first reported the story.

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