"I don't think it's going to happen," a source told ESPN.com's Gordon Edes.
The Rangers have been scouting Lowell this spring, and the veteran has picked it up at the plate. Since opening the spring on a 1-for-10 clip, Lowell has gone 4-for-7 to bring his spring average to .333 with a pair of doubles and one RBI.
There was no definitive reason given for the stall in the negotiations, though Edes speculated that the issue is money.
"It may be that the Rangers are engaged in a high-stakes poker game with the Red Sox to see how much of Lowell's [$12 million] salary Boston will eat to make the deal," the report said. "But for now, money remains the hang-up to executing a deal, and Lowell remains with the Red Sox."