The Texas Rangers and Mitch Moreland have agreed to a one-year, $2.65 million contract for the 2014 season, avoiding an arbitration hearing that was scheduled for Wednesday.

The deal means the Rangers continue their streak of staying out of hearings in arbitration cases. They haven't had one since 2000.

Moreland, 28, hit .232 in 2013 with a career-high 23 homers and 60 RBIs as the club's first baseman. But with Prince Fielder now on the squad, the left-handed hitting Moreland is expected to slide over into a DH role while also playing some first base and corner outfield when needed.

When figures were exchanged last month, Moreland was asking for $3.25 million and the Rangers offered $2.025 million, so the sides found the middle ground suitable.

The last time the Rangers needed a hearing to settle an arbitration case was 14 years ago with Lee Stevens.