Mike Lowell was the World Series MVP in 2007.

THE ASSOCIATED PRESS

INDIANAPOLIS -- The Boston Red Sox are discussing a trade that would send 2007 World Series MVP Mike Lowell to the Texas Rangers.

The 35-year-old third baseman was an all-star four times from 2002-07, hitting .324 with 21 homers and 120 RBIs in 2007. But he slumped to 73 RBIs in 2008 and 75 RBIs this year, hitting 17 homers each season.

Lowell was slowed by surgery in October 2008 to repair a torn labrum in his right hip and remove a bone spur on a thigh bone. He is owed $12 million in 2010, the final season of a $37.5 million, three-year contract.

Rangers general manager Jon Daniels said the teams still are discussing the trade, which also would be subject to physicals. Boston would have to give Texas money to offset a portion of Lowell's salary.

"Some of the reports of how close it is might be a little bit overstated," Daniels said Thursday. "Both clubs are evaluating. I think the general parameters are understood and both clubs need to decide whether it's the right fit."

Texas has been one of the busiest teams at the winter meetings. The Rangers traded pitcher Kevin Millwood and $3 million to Baltimore for reliever Chris Ray on Wednesday night and acquired left-hander Ben Snyder from the Orioles on Thursday to complete the swap.

The Rangers filled Millwood's spot in the rotation, agreeing with oft-injured right-hander Rich Harden on a one-year contract that guarantees him $7.5 million.

By trading Lowell, the Red Sox would clear a spot at third base, freeing them to work out a deal with free agent Adrian Beltre, who was replaced in Seattle by Chone Figgins.

Later in the day, on a conference call to discuss Harden's signing, Daniels acknowledged that both the Rangers and Red Sox are exploring other options that could affect a potential Lowell deal.

"There's still some things that we're looking to do. I really couldn't tell you right now the timing of if or when we'll get them done," Daniels said.

Money also appears to be an issue in a Lowell deal.

"Both clubs know what's on the table and we'll continue to talk here and work through it," Daniels said.