The deal, first reported by the Dallas Morning News, is contingent on each of the players passing physicals. It completes the Rangers' quest to land Eaton, which began at the general managers' meetings in November. In exchange for Eaton's experience, the Rangers are giving up Young's future. Eaton, 28, is a free agent after next season. Young, 26, will be under the Padres' control for the next five years.

Otsuka, 33, likely will be the setup man for Rangers closer Francisco Cordero; he became available after the Padres re-signed closer Trevor Hoffman and signed free-agent reliever Doug Brocail. The Rangers' bullpen, first in the American League in ERA in 2004, fell to 12th last season, in part due to injuries.

Gonzalez, 23, is a slick fielder with a line-drive stroke who was stuck behind Mark Teixeria with the Rangers; he projects as the Padres' first baseman of the future with Ryan Klesko's contract expiring after next season.

Sledge, 28, lasted less than three weeks with the Rangers after arriving in the Alfonso Soriano trade; he's the type of athletic outfielder that the Padres need in Petco Park, and should fit nicely as a reserve behind Brian Giles, Mike Cameron and Dave Roberts.