Source: Canadian Harden and Rangers agree to 1-year deal guaranteeing $7.5 million

INDIANAPOLIS - Canadian right-hander Rich Harden(notes) and the Texas Rangers have reached a preliminary agreement on a one-year contract that guarantees him US$7.5 million, a person familiar with the negotiations said Wednesday,

The deal calls for a $6.5 million salary next year and includes an $11.5 million mutual option for 2011 with a $1 million buyout, the person said, speaking on condition of anonymity because the deal is not yet final. The Victoria native can earn an additional $250,000 next year in performance bonuses.

Harden must pass a physical for the agreement to be completed.

Texas reached the agreement on the same day it traded Kevin Millwood(notes) to Baltimore along with $3 million for reliever Chris Ray(notes) and a player to be named.

Harden struck out 171 batters in 141 innings last season, going 9-9 with a 4.09 ERA for the Chicago Cubs, who acquired him from Oakland in July 2008 along with right-hander Chad Gaudin(notes) for right-hander Sean Gallagher(notes), outfielders Matt Murton(notes) and Eric Patterson(notes), and catcher Josh Donaldson.

Harden, who turned 28 last month, is 50-29 with a 3.39 ERA in seven big league seasons. He has been slowed by seven trips to the disabled list for a strained left oblique (2005), strained back (2006 and 2009), sprained elbow ligament (2006), and strained shoulder (twice in 2007 and once in 2008).