The Texas Rangers and Joc Pederson have agreed to a two-year, $37 million contract, sources told ESPN's Buster Olney. The deal, which is pending a physical, has an opt-out after the first year, sources told Olney. The Athletic first reported Monday that the Rangers and Pederson were in agreement on a deal.

A person with knowledge of the deal says the Texas Rangers and free agent designated hitter Joc Pederson have agreed on a contract.