SURPRISE, Ariz. - Normally media-shy Rangers managing partner Ray Davis, in something of a state-of-the-ownership media briefing Tuesday, apparently expects the price on free agent-to-be Yu Darvish to only go up.

With good reason.

"He is healthy, in a good frame of mind and very strong," Davis said. "I expect he is going to win the Cy Young award."

Now comes the hard part: Determining if there is a framework for a potential extension.

Davis said Darvish has expressed interest in returning and "we'd love to have him." But, he added, the Rangers will survey all their options. And with that, he referred all other questions on Darvish to general manager Jon Daniels, who, as a matter of policy, doesn't discuss contract talks.

The takeaway: The team won't necessarily be afraid of spending big for an extension, but, with payroll at an all-time high and the club still on the hook for several large long-term contracts, an extension will be based more on performance than projection.

The Rangers paid for projection when they bid $51.7 million for Darvish in the posting process after the 2011 season, then spent another $56 million on a six-year contract for a $107 million investment. His next contract could surpass an average value of $30 million per season for five years.

During Darvish's time with the Rangers, the club's payroll has grown from $120 million for 2012 to what is expected to be about $170 million for 2017. The Rangers added free agents Mike Napoli, Carlos Gomez, Andrew Cashner and Tyson Ross, all on one-year deals. Davis said ownership is willing to continue to expand payroll - within reason - to contend.

"Yes, we stretched [the payroll," Davis said. "But we brought in a lot of good talent and we're excited about the year. We are going to try to win every year, absolutely. The nature of the business that we are in is that [payroll] goes up. You would love to do one year contracts for everybody, but that's not the way the market works. You have to do what the market says.

"There does have to be a balance between the financial and what your desires are," he added. "No one has an unlimited checkbook. So far, [Jon Daniels] has never come to me with anything that is unreasonable where I've had to say 'no.' That day may happen, but so far it hasn't."

A few other highlights from Davis' conversation:

Stadium design update: Though the new stadium, scheduled to open in 2020, is expected to have a significantly reduced seating capacity compared to Globe Life Park in Arlington (approximately 48,000), there is expected to be a much larger standing room area. Think along the lines of the Party Pass area at AT&T Stadium.

Ownership update: Davis said co-chair Bob Simpson, who was rarely at Globe Life Park in 2016, will be more visible this season. Davis, however, will remain in the managing partner role. "I'm having too much fun," he said. Neil Leibman, the other main member of the ownership group, has taken on a more prominent role, as well.

Minor league update: Davis did not rule out the possibility the Rangers would pursue their own Triple-A franchise if, as expected, the club loses its affiliation with Nolan Ryan-owned Round Rock after 2018. The Rangers purchased a Class A club in Kinston, N.C., last year after losing their affiliation with Myrtle Beach. The club has also entered an agreement to construct its own academy in the Dominican Republic.