The Rangers just signed a very lucrative TV deal, so they will be able to compete with the big guns for players.
I think Cliff Lee will be a Ranger for a long time.
1) The salary the Rangers could offer after taxes could EQUAL what the Yankees could offer. Why? No Texas state income tax, and as such Lee won't end up paying a fortune in New York state and New York City local income taxes.
2) The Rangers are a team full of mostly young players with a few good veterans, unlike the Yankees with its older players.
3) The Rangers' management is headed by Nolan Ryan, a LEGEND of Texas baseball if there ever was one. Cliff Lee would highly respect what Ryan has done.