Report: Rangers, Gray finalizing 4-year, $56M deal

The Texas Rangers are finalizing a four-year, $56-million deal with former Colorado Rockies right-hander Jon Gray, sources told ESPN's Jeff Passan.

Once Gray passes his physical, he'll join an inexperienced rotation in Texas expected to feature Dane Dunning, Taylor Hearn, A.J. Alexy, and Spencer Howard.

The Rangers won't have to forfeit a draft pick to sign Gray because the Rockies didn't make him a qualifying offer.

Colorado made Gray a competitive offer, according to Rockies general manager Bill Schmidt.

Gray posted an 8-12 record with a 4.59 ERA and 4.22 FIP last season while making half his starts at Coors Field - one of the toughest parks for pitchers. The 30-year-old put up a better ERA and WHIP in 14 outings in Colorado than on the road.

The former third overall pick owns a 53-49 career record with a 4.59 ERA and 3.91 FIP in 151 starts over seven big-league seasons - all with the Rockies.

Gray is the third major transaction by the Rangers on Sunday after the club reportedly landed outfielder Kole Calhoun and agreed to a seven-year, $175-million deal with infielder Marcus Semien.