Joey Gallo Rumors: Rangers Ramp Up Pursuit of Contract Extension Amid Trade Buzz

The Texas Rangers are reportedly exploring multiple options with slugger Joey Gallo as the trade deadline approaches.

According to Evan Grant of the Dallas Morning News, the American League West team has "become more aggressive in discussing contract extension discussions with him and his representative Scott Boras."

However, the Rangers are also holding trade discussions regarding Gallo with teams, including the Toronto Blue Jays. Grant called Toronto "perhaps the Rangers' most favored potential trade partner."

Either option has its merits from Texas' perspective.

On the one hand, the team is in last place in the American League West at 35-63 and doesn't appear primed to compete for a World Series in the near future. Trading Gallo, who is scheduled for unrestricted free agency in 2023, could help facilitate a rebuild if the move netted a number of young players.

However, the Rangers could also look to build around Gallo considering he is just 27 years old and one of the best power hitters in the league.

He is slashing .226/.385/.492 with 24 home runs and 52 RBI in 92 games this season and isn't far removed from when he launched 41 and 40 home runs in back-to-back years in 2017 and 2018.

Those types of numbers could serve as the foundation of Texas' lineup when it is ready to compete in the coming years if it does re-sign Gallo. They are also surely enticing to contenders looking for a power boost at the trade deadline, so the Rangers could land quite the return package in a trade.

What they do with Gallo will be one of the biggest storylines in baseball prior to Friday's trade deadline.