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The Rangers signed Pederson to a two-year, $37 million contract Monday, Buster Olney of ESPN reports.

The deal has an opt out after the first year. Pederson is coming off arguably the best offensive season of his career, having slashed .275/.393/.515 with 23 home runs over 132 contests. The left-handed hitting Pederson didn't make a single start against a traditional left-handed starter, and while the Rangers might not be quite as strict as the Diamondbacks were, the overwhelming majority of the 32-year-old's playing time should come at designated hitter versus righties.

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