Josh Hamilton is going from the Texas Rangers to the rival Los Angeles Angels.

Rangers general manager Jon Daniels confirmed Thursday that Hamilton agreed to a contract with the Angels. Multiple sources have confirmed to ESPN that the deal is worth $125 million over five years.

The Angels have not officially confirmed the signing but have scheduled a

news conference for Saturday. The team sent out a news release Friday saying it plans to make

a major announcement Saturday at 8:30 a.m. ET.

Speaking Thursday after a Rangers holiday luncheon, Daniels said, "That's accurate," when asked whether Hamilton had joined the Angels, claiming he had been informed of the decision by the slugger's agent, Mike Moye.

Daniels admitted the Rangers had hoped to retain Hamilton, a five-time All-Star and the 2010 American League MVP, and said the team wasn't given a chance to match the Angels' offer.

"Our full expectation was that the phone call was going to be before he signed, certainly not after and giving us an idea," Daniels said.

Hamilton's agent, Mike Moye, declined to confirm that an agreement is in place with the Angels. But he told ESPN that there was no understanding that the Rangers would receive a final chance to lock up Hamilton before he signed with another club.

"Reports in the media that we gave the Rangers the right to match offers were simply erroneous," Moye said.

Hamilton's $25 million average salary will match that of Philadelphia first baseman Ryan Howard for second highest in baseball, trailing only Alex Rodriguez's $27.5 million average with the New York Yankees.

Hamilton joins a team that spent big last offseason to add first baseman Albert Pujols for $240 million over 10 years and pitcher C.J. Wilson for $77.5 million over five years. Yet the Angels disappointed and failed to make the playoffs last season.

Hamilton's addition to the Angels' outfield means Mark Trumbo could be moved to third base or traded. Peter Bourjos and Vernon Wells also are among Angels outfielders competing for time unless a trade is made.

Angels manager Mike Scioscia will have an interesting decision to make on where in the batting order to slot Pujols, AL Rookie of the Year Mike Trout and Hamilton.

The agreement with Hamilton came days after the Los Angeles Dodgers added pitchers Zack Greinke and Ryu Hyun-jin, boosting their payroll to more than $200 million.

Hamilton was considered a risk by some teams because of his history of alcohol and substance abuse, which derailed his career before his surge with the Rangers the past five seasons.

Daniels said Hamilton indicated last week that it "might be time to move on" from the Rangers, but the two sides still were talking.

He expressed disappointment Thursday that his club didn't at least get a chance to "have a conversation" with the slugger before he agreed to the deal with the Angels.

"I thought we had additional conversations this week that had moved it along in a positive direction," Daniels said. "Apparently not. It's business and everybody has to make their own calls, and he has a family to look out for. I get it.