Curt Schilling and the Boston Red Sox have reached an agreement on a one-year deal worth about $8 million in base salary and another $2 million in potential incentives, ESPN The Magazine's Buster Olney reports.
The agreement is pending Schilling, 40, passing a physical exam.
On his Web site, 38pitches.com, Schilling gave an update on the negotiations.
"Talks with the Red Sox are moving," he wrote. "[Red Sox general manager Theo Epstein] and I have spoken multiple times daily over the past week and given the current situation I am feeling very confident that we will be able to finalize a 1 year contract to allow us a chance to finish our career as members of the Red Sox organization.
"There are some things to iron out and details that must be finalized for both sides but barring something unforseen or outrageously odd happening I feel very comfortable that I will finish my career here."
Schilling, who is not represented by an agent, went 9-8 with a 3.87 ERA last season. He won three games in the postseason, including Game 2 of the World Series on the way to Boston's sweep of the Colorado Rockies.
Schlling is a six-time All-Star who has been with the Red Sox for four of his 20 seasons.
The Boston Herald, which first reported that Schilling was near a deal with the Red Sox, reported that the Astros, Diamondbacks and Phillies all contacted Schilling on the first day of free agency. But Schilling posted on his Web site: "I made it clear to all three teams that my intent was to do whatever I could to resolve this and remain in Boston for the final year of my career."
In 2004, Schilling went 21-6 and helped lead the Red Sox to their first World Series title since 1918, but his velocity has since diminished.
After the Red Sox declined to give him an extension, Schilling said in February that he would become a free agent after the season. He said then he would return for Boston in 2008 for $13 million, the same salary he earned in 2007.