Jan 06, 2009 5:14 PM EST

The Athletics and free agent slugger Jason Giambi are reportedly on the verge of agreeing on a one-year deal with an option for 2010.

Sources confirmed the rumors to ESPN's Buster Olney.

The rumored deal would pay Giambi $4 million in 2009 with a $6.5 million base salary for the option year in 2010. The second year would also provide for a $1.25 million buyout.

Via ESPN