Per Ken Rosenthal:
Sources: Andrus, #Rangers close on eight-year deal, believed to be for $120 million.— Ken Rosenthal (@Ken_Rosenthal) April 1, 2013
Assuming this deal comes to fruition, this deal would, by average annual value, make Elvis the fourth-highest paid shortstop in baseball ($15 million per year), behind Jose Reyes, Derek Jeter, and Troy Tulowitzki.
It would also solidify Elvis's place as the Rangers' shortstop of the present and future, with this contract either replacing the two years remaining on his current deal -- which would secure his age-24 through -31 seasons -- or adding onto those two remaining years, which would secure his age-26 through -33 seasons. It would, one would think, leave Jurickson Profar slotted for either a long-term role at second base or the trade market, with Ian Kinsler's longer-term role at second base also being plunged into some doubt.
More as details become available.