We’ve got a couple teams locking up some talent long-term this week.

• The Rangers and Derek Holland reached an agreement on a 5yr/$28 million extension. The contract includes two option years, meaning Texas could lock up the starter until 2018. The lefty posted a 3.94 FIP last season.
• Outfielder Jason Bourgeois and catcher Humberto Quintero are headed from Houston to Kansas City, in exchange for a minor league pitcher and a PTBNL. The trade will infuse Houston with more young talent, and provide the Royals with a veteran backstop in the wake of Salvador Perez’ knee surgery.
• Dontrelle Willis is headed not to the Rockies, as I suggested last week, but to Baltimore on a minor league contract. Willis would make $700k in the big leagues, most likely as a lefty specialist in the ‘pen.
• Catcher Nick Hundley signed a 3yr/$9 million extension with the Padres, buying out his arbitration years. The deal includes an option for 2015 as well. The 28-year-old posted a respectable .288/.347/.477 line in 82 games last season.
• Currently being shopped: Giants middle infielders Ryan Theriot and Mike Fontenot; Orioles corner outfielder Mark Reynolds and relief pitcher Kevin Gregg.
• Free agent DH Vladimir Guerrero is determined to play this season, and will consider heading to Japan if he runs out of options stateside.

To keep up with transaction news in real-time, check out MLB Trade Rumors, their Twitter account, and their Free Agent Tracker. The regular season is bearing down on us, so we’ll see you back here next week!

Opening day is around the corner. Can you smell it? Smells like… Beer.

• A year of retirement didn’t sit well with Andy Pettitte. He’s back, and he signed a minor-league contract potentially worth 2.5 million with the Yankees. The 39-year-old left on a relatively high note, posting a 3.28 ERA/3.85 FIP in 2010.
• The Royals locked up shortstop Alcides Escobar with a 4-year, $10.5 million deal. The contract includes options for 2016 and 2017, which could max it out at $21.75 million. Manager Ned Yost thinks Escobar is Gold Glove-caliber.
• The Pitcher Formerly Known As Fausto Carmona, aka Roberto Hernandez, restructured his contract with the Indians. He will be making significantly less than the $7 million originally agreed on; possibly less than $3 million. The restructuring also removed an option year. Hernandez is still on the restricted list.
• The Red Sox have agreed to sign 20-year-old Dominican righty Simon Mercedes. Mercedes has had identity issues in the past, presenting himself as younger and under a different name. He was banned for a year after signing with the Giants under false pretenses. The deal, once approved by MLB, will be worth $800k.
• After the injury to starter Salvador Perez, the Royals contacted Ivan Rodriguez to invite him to camp. The catcher has yet to accept, although he does hope to continue playing this season. Perez is expected to be out for at least three months.
• The Phillies released a struggling Dontrelle Willis several days ago, but the Rockies are looking for pitching and are thinking about picking the lefty up.

For more transaction news, such as there is these days, check out MLB Trade Rumors, their Twitter account, and their Free Agent Tracker. You should also stop by MLB’s Hot Stove blog. See you back here next week, to tide you over until real games start.