UPDATE: Baseball sources have confirmed that the Phillies have completed the trade that will bring Michael Young to Philadelphia as the team's primary third baseman.

The Rangers will pay $10 million of Young's $16 million contract for the 2013 season and get relievers Josh Lindblom and Lisalverto Bonilla in return.

Read more about the trade in Sunday's Inquirer.

The deal that would bring Michael Young to the Phillies as their primary third baseman moved a step closer to completion Saturday when he informed officials from the Texas Rangers that he'd accept the trade.

Young, who has spent his entire big-league career in Texas, had the right to reject the trade because he has spent 10 years in the big leagues, including five with the same team.

Evan Grant of the Dallas Morning News reported Young's decision on Twitter, but noted that financial details between the Phillies and Rangers still needed to be completed before the trade was finalized. A baseball source confirmed Young's decision.

Young, 36, will be entering the final year of a five-year contract that will pay him $16 million in 2013. Speculation has been that the Rangers will agree to eat about $8 million.

No details have surfaced about what the Rangers will get in return from the Phillies. A Dallas Morning News story Wednesday night indicated Texas was looking for a young reliever with big-league experience and a low-level prospect.

The Phillies have a long list of young relievers with a modicum of big-league experience, thanks in part to all the auditions they conducted last season. That list includes Michael Schwimer, Jake Diekman, Jeremy Horst, Justin De Fratus, Phillippe Aumont, Josh Lindblom, Michael Stutes and B.J. Rosenberg. Schwimer is the reliever they'd be most willing to trade.