ESPN

The Chicago Cubs and former Texas Rangers hitting coach Rudy Jaramillo have begun discussions on a contract that would possibly make him the highest paid coach in Major League Baseball, according to players sources.

Jaramillo and the Rangers agreed to part ways last week when the team offered him a one-year contract for the same salary he made in 2008. Texas was not able to offer more than one year due to the possibility of an ownership change in the near future.

Actually, Major League Baseball had to help bail out the franchise last season when owner Tom Hicks and his partnership group had trouble making payroll payments.

Jaramillo was the highest paid hitting coach in baseball last season, making $650,000, according to league sources. It appears Jaramillo may get upwards of $750,000 or more in a multi-year deal to sign with the Cubs or another major league team.

Other clubs such as the Houston Astros, New York Mets, San Francisco Giants and Cleveland Indians all have interest in Jaramillo according to various reports.

Jaramillo is considered at the top of his trade even among other hitting instructors in the game. After 15 years with the Rangers, the Texas native is considered the guru of hitting coaches.

According to reliable sources, Jaramillo might make decision on where he ends up within a week.