Dec 08, 2007 4:58 PM EST

A little more than a week after losing closer Francisco Cordero to a four-year contract with the Cincinnati Reds, the Milwaukee Brewers on Saturday morning were near a contract agreement with veteran reliever Eric Gagne, according to an industry source.

Terms of the contract were unavailable, but it is likely to be for one year.

Upon Cordero leaving for the Reds and Scott Linebrink signing with the Chicago White Sox, the Brewers signed David Riske, who has 20 career saves and no more than eight in a single season, to a three-year contract, and traded for Pittsburgh Pirates' right-hander Salomon Torres. They also have Derrick Turnbow who lost the closer role in an inconsistent 2006 season and then lost the job for good to Cordero.

Via Yahoo!