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Time Running Out for Rangers, Darvish

Jeff Bottari/Getty Images(ARLINGTON, Texas) -- The Texas Rangers and Japanese pitcher Yu Darvish have until 5 p.m. ET on Wednesday to agree to a contract.  The Rangers paid Darvish's Japanese team, the Hokkaido Nippon-Ham Fighters, a $51.7 million posting fee just for the right to negotiate with the talented right-hander.

Last season in Japan, Darvish went 18-6 with a 1.44 ERA and 276 strikeouts.  If the two sides cannot reach a deal, Darvish will return to Japan and the Rangers will get their posting fee back.

Copyright 2012 ABC News Radio

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