Report: Rangers third baseman Michael Young to accept trade to Phillies

The Texas Rangers traded third baseman Michael Young for prospects on Saturday. (Ezra Shaw/Getty Images)

Texas Rangers third baseman Michael Young waived his 10-and-5 rights and accepted a trade to the Philadelphia Phillies on Saturday, which would acquire league approval and Young passing a physical, reports the Dallas Morning News. 

The Rangers will receive 25-year-old RHP Josh Lindblom and a minor leaguer, believed to be 22-year-old RHP Lisalverto Bonilla.

The Rangers must also still gain approval of MLB commissioner Bud Selig due to the large amount of cash (more than $10 million) the Rangers are sending Philadelphia. As with all deals, it would not be official until Young passes a physical for Philadelphia.

Young is set to make $16 million in 2013, the final season of a five-year, $80-million contract. The Rangers reportedly will pay $10-12 million of that salary. Young, 36, had spent his entire career with the Rangers where he hit .301 with 177 career home runs and 984 RBI.