Texas receives shortstop Josh Smith (New York's No. 14 prospect, per MLB.com), second baseman Ezequiel Duran (No. 15), second baseman/outfielder Trevor Hauver (No. 23) and right-handed pitcher Glenn Otto (No. 28).

Levi Weaver of The Athletic initially reported the deal.

Gallo is one of baseball's most dangerous power hitters. He's well on his way to his third 40-home run season, hitting .223 with 25 homers, 55 RBI, 57 runs and an .869 OPS. He ripped 41 homers in 2017 and 40 in 2018, though injuries limited him to 79 games in 2019 and the COVID-19 pandemic cut the 2020 campaign short. 

The 27-year-old has generally played in the outfield but also could serve as the Yankees' DH.

Gallo is arbitration-eligible for one more season before he hits free agency ahead of the 2023 offseason. That factor, along with the Rangers stumbling to a putrid 36-65 record, made him a trade candidate.

"In my head and in my heart, I believe I will be a Ranger," he told reporters July 13. "But at the end of the day, I know it is a business and if the team feels it is fit better elsewhere, I will understand it."

The Rangers moved on as they stockpile young players and assets ahead of the July 30 trade deadline. The Yankees will be glad they did.

The 52-47 Bronx Bombers have been a disappointment, given the talent they've accumulated. But a lineup with Aaron Judge, Giancarlo Stanton, Gleyber Torres, DJ LeMahieu and Gary Sanchez shouldn't struggle to score runs. And Gallo should provide a major upgrade in left field, with Brett Gardner and Clint Frazier toiling this year. 

Gallo may not cure all of New York's ills, but he'll help.