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Derek Holland signs 5-year contract

Updated: March 20, 2012, 5:30 PM ET
By Richard Durrett | ESPNDallas.com

SURPRISE, Ariz.-- Left-handed pitcher Derek Holland signed a five-year, $28.5 million deal with the Texas Rangers Tuesday morning.

The deal calls for salaries of $1 million this year, $3.2 million next year, $5.4 million in 2014, $7.4 million in 2015 and $10 million in 2016.

Texas holds an $11 million option for 2017 with a $1.5 million buyout. If the first option is exercised, the Rangers have an $11.5 million option for 2018 with a $1 million buyout. There are additional escalators.

The ...

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