ARLINGTON, Texas (CBSDFW.COM) – Despite the Texas Rangers recent struggles, the franchise believes its future is brightest with the current general manager Jon Daniels sticking around.

Rangers Co-Chairman and Managing Partner Ray Davis Thursday issued the following statement following the team’s announcement that President of Baseball Operations and General Manager Jon Daniels has signed a multi-year contract extension:

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“Coming into this season, extending Jon Daniels’ contract was a priority for us. His track record demonstrates clearly that he is the right person to lead the Rangers back to contending for championships once again. Over the last decade, the Rangers have the fifth best winning percentage in the major leagues and have gone to the playoffs five times in a period of success unsurpassed in franchise history.

“Our ownership group trusts Jon’s judgment and respects his experience and skill as well as that of his baseball operations leadership team. Their approach to building the roster includes creatively exploring every avenue to improve the ballclub and our farm system. The quality of the player development operation they have built is respected throughout Major League Baseball. Jon and his group understand the challenges ahead and are working diligently to build a major league team that will be competitive for years to come. We are fortunate to have Jon leading our baseball operations as we enter into what will be a very exciting time for the Texas Rangers franchise.”

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President of Baseball Operations and General Manager Jon Daniels of the Texas Rangers. (Photo by Tom Pennington/Getty Images)

The Rangers did not say how many years Daniels’ contract extends or any details on the terms of the contract.

His current contract was scheduled to expire at the end of this season.  He’s been the Rangers GM since 2005.

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The Rangers are currently in last place in the American League West division with a 27-37 win-loss record.