The Rangers have put Arthur Rhodes on release waivers and he'll be a free agent Wednesday, according to Anthony Andro of the Fort Worth Star-Telegram (on Twitter). The Rangers had designated the left-hander for assignment last week.
Rhodes, 41, has a 4.81 ERA with 5.5 K/9 and 3.0 BB/9 in 24 1/3 innings this year. He earns $3.9MM in 2011 and the Rangers, who had a $4MM option for 2012, will be responsible for Rhodes' entire salary less a pro-rated portion of the MLB minimum if Rhodes signs elsewhere.
If he appears in 62 games this year - he has 32 appearances so far - and is not on the disabled list at the end of the season, the club option will vest. Rhodes could draw interest from teams such as the Cardinals despite his so-so 2011 stats.