The Texas Rangers have agreed to a trade to acquire two-time Cy Young winner Corey Kluber from the Cleveland Indians, sources familiar with the deal told ESPN's Jeff Passan.

In return, the Indians are receiving outfielder Delino DeShields Jr. and reliever Emmanuel Clase. News of the players acquired by Cleveland was first reported by The Athletic.

Kluber becomes the ace of a rotation that already includes veterans Mike Minor (14-10, 3.59 ERA last season) and Lance Lynn (16-11, 3.67 ERA). The Rangers also signed starting pitcher Kyle Gibson to a three-year, $30 million contract this offseason. Gibson went 13-7 with a 4.84 ERA for the Minnesota Twins last season.

It's a homecoming for Kluber, who went to high school in Coppell, Texas -- approximately 22 miles from Arlington, Texas, where the Rangers play their games.

The Indians had picked up Kluber's $17.5 million contract option for the 2020 season on Oct. 31. His contract also includes a club option for the 2021 season that's worth $18 million.

The Rangers' World Series odds at Caesars Sportsbook improved from 100-1 to 40-1 after news of the trade broke. The Indians' World Series odds at Caesars went from 18-1 to 30-1.

Kluber didn't pitch for the Indians after May 1, when he sustained a broken right arm (his pitching arm) when he was hit by a comebacker. He was nearing a return in the minor leagues before an oblique injury ended his comeback. He was 2-3 with a 5.80 ERA in seven starts last season.

The 33-year-old Kluber is expected to be ready for the start of spring training.

He is 98-58 with a 3.16 ERA in nine major league seasons. In the postseason, he is 4-3 with a 3.97 ERA in nine starts.

The three-time All-Star won his Cy Young Awards in 2014 and 2017.

DeShields, 27, hit .249 with four home runs, 32 RBIs and 24 stolen bases in 118 games last season. Clase, 21, was 2-3 with a 2.31 ERA in 21 appearances in the majors for Texas last season.