The Rangers have signed veteran right-hander Derek Lowe to a minor league deal with an invitation to major league spring training.

Lowe seems likely to make the Rangers as a bullpen piece, though he does have the versatility to start if they decide to give him a shot at the fifth spot in the rotation.

Lowe will make $1.25M if he's in the majors and could earn more in incentives, according to an ESPN.com report on Wednesday.