Joe Nathan

Jeff Wilson of the Fort Worth Star-Telegram reports that Joe Nathan will earn $7 million per season in 2012 and 2013.

The contract includes a $9 million option for 2013 or a $500,000 buyout. Nathan passed a physical on Monday night and will be introduced during a press conference on Tuesday, which also happens to be his 37th birthday. The veteran right-hander will enter the 2012 season just 39 saves short of 300 for his career.

According to Jeff Wilson of the Fort Worth Star-Telegram, Joe Nathan’s new contract with the Rangers is worth a total of $14.5 million.

Nathan signed a two-year deal with a club option for a third year. While the veteran right-hander initially struggled upon returning from Tommy John surgery this year, his strong second half indicates that he could be a decent value at these terms, especially in the light of the recent outrageous contract given to Jonathan Papelbon. The Rangers are expected to finalize the agreement during a press conference Tuesday.

According to T.R. Sullivan of MLB.com, the Rangers have signed reliever Joe Nathan.

Twins general manager Terry Ryan said the team wants to re-sign free agent reliever Joe Nathan back and thinks Nathan wants to return to Minnesota.

Ryan admitted, though, that it will depend on how much money Nathan wants. The Twins declined Nathan’s $12.5 million option for 2012 and will probably only want to pay him around half that much to return. The 37-year-old struggled in the first half this season after coming back from Tommy John surgery but began to regain his form after the All-Star break, posting a 1.00 WHIP and 22/5 K/BB ratio over 23 innings.