I don't have a lot of time right now to write this up, but according to the Twitterverse, the Rangers have agreed to terms with manager Ron Washington on a two-year contract extension that will keep him in Texas through the 2014 season. Financial terms have not been disclosed (and may never be disclosed), but as of 2009, Washington's annual salary was believed to be within the general vicinity of $750,000, so you can extrapolate your estimates from that figure if you so desire.
Washington has helmed the Rangers throughout one of the most successful three-year stretches in their history, with Texas going 273-213 over the last three seasons and clinching back-to-back American League pennants. We could probably argue back and forth until we're blue in the face about whether he's a passable/adequate/good in-game manager, but the Rangers clearly believe that he has been (and will continue to be) the guy they want leading their team, and that's paying off now in the form of substantially enhanced job security.
For somebody who was reportedly close to being fired from his managerial post on no fewer than two separate occasions and survived a drug-related imbroglio, this represents about the closest thing to a dream turnaround as you can possibly get ... short of a World Series title, at least.