Update, 10:00 PM Tuesday: Rangers signed Beltre to a 6 year, $96 million dollar contract. - Zonis
1/2/11, 6:52pm: Enrique Rojas of ESPN Deportes reports that the two sides are close to agreeing to a deal (link in Spanish). An agreement "appears imminent" according to one of Rojas' sources, while another tells him it will "probably" be a five-year contract with an option for 2016.
Update, 8:00am Monday: The Rangers may not be aware of this "agreement," as they don't seem to think there is one. -Nico
Getting Beltre would be a logistical problem for the Rangers, as it would require them to make Michael Young very mad by either shifting him to 1B or DH, but it would certainly improve their team quite a bit, making them even clearer favorites for the AL West. In some ways, it would have been better for the Angels to sign him, as the Angels would gain on us, but become equal or slightly less, whereas the Rangers just jump farther ahead. Then again, the Angels have a black hole at 3B equivalent to the A's black holes at Corner Outfield last year.
The good news is that the signing of Adrian Beltre may likely remove the Rangers from signing Vlad Guerrero or another DH if they move Young to DH and play Davis at 1B (good thing they traded Justin Smoak!), though its also possible that they could move Young to 1B and sign Guerrero or Jim Thome.
I really, really hope that talks fall apart, as Beltre remaining in the AL West is bad news since he refuses to play for the A's. I was really hoping that he would somehow end up with a 'mystery' team, such as the Cardinals, and go to the NL.
Speculate away on terms.