Person familiar with deal: Rangers, Beltre add 2 years, $36M

ARLINGTON, Texas (AP) All-Star third baseman Adrian Beltre and the Texas Rangers have reached an agreement on a two-year contract extension through the 2018 season.

The Rangers announced the extension after their 11-5 loss to Baltimore on Friday night, and scheduled a news conference for Saturday with the 37-year-old Beltre, general manager Jon Daniels and manager Jeff Banister.

A person familiar with the deal told The Associated Press that the extension is worth $36 million. That person spoke on condition of anonymity because the team didn't not reveal the financial terms.

Beltre is in the final season of the $96 million, six-year deal he initially signed with the Rangers as a free agent before the 2011 season. He is making $16 million this year.

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AP Baseball Writer Ronald Blum contributed to this report.