Josh Hamilton, Rangers Agree to 2-Year Deal Reportedly Worth $24 Million

February 10 2011 Last updated at 02:39 PM ET

Reigning American League MVP Josh Hamilton has avoided arbitration and signed a two-year deal with the Texas Rangers, the team announced Thursday.

A press conference to announce the deal has been scheduled for 4 p.m. ET.

The Rangers did not disclose the terms of the agreement, but SI.com reported that the contract is worth $24 million.

Hamilton, 29, hit .359 with 32 home runs and 100 RBI last season, his third with the Rangers.

The slugger, who was the No. 1 overall pick by the Tampa Bay Devil Rays in 1999 and fell out of baseball for years as he battled drug and alcohol addiction, is eligible to become a free agent after the 2013 season, so this deal buys out all but one of his arbitration-eligible years.

In addition to winning the 2010 AL MVP Award, Hamilton also was named ALCS MVP in October as he helped the Rangers to their first ever World Series appearance. He was hospitalized briefly during the offseason with pneumonia, but is expected to be ready once spring training begins.

Source: http://mlb.fanhouse.com/2011/02/10/josh-hamilton-rangers-agree-to-2-year-deal-reportedly-worth-24/

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