Texas has until Monday at 5 p.m. ET to give Cashner a qualifying offer, a one-year contract worth $17.4 million in 2018, the average of MLB's 125 highest-paid players. The team had considered giving Cashner a qualifying offer, according to Heyman.
Cashner is set to hit free agency after his first season with the Rangers. The 31-year-old went 11-11 with a 3.40 ERA in 2017, amassing 166 2/3 innings in his 28 starts.
If the Rangers do not extend a qualifying offer to Cashner, the team Cashner signs with as a free agent will not be subject to the Draft-pick rules attached to players who receive the offer.
Teams that have a qualifying offer rejected by a player receive a Draft pick the following year as compensation if the player signs with a new team. For the Rangers, such a pick would likely come after Competitive Balance Round B in 2018, because they are not among the teams that receive revenue sharing, according to MLB.com's Jon Paul Morosi.
On the flip side, the team that signs the player is then subject to the loss of one or more Draft picks, with the specific picks depending on whether the signing team exceeded MLB's luxury tax the previous season and whether the team receives revenue sharing.
For a complete explanation of the new qualifying offer rules, click here.
David Adler is a reporter for MLB.com based in New York. Follow him on Twitter at @_dadler. This story was not subject to the approval of Major League Baseball or its clubs.