Ubaldo Jimenez has agreed a deal with the Baltimore Orioles worth $50m over four years, reports CBS Sports.
The starting pitcher has been a free agent since declining the one-year, $14.1m qualifying offer from the Cleveland Indians and comes with a first-round draft pick compensation tied to him.
That means that if the Orioles complete the deal they'll forfeit the 17th overall pick in the draft.
However, Jimenez, 30, has yet to complete a medical with the Orioles; a task that is harder than it sounds.
Jimenez finished third in the NL Cy Young voting in 2010 but has failed to build on that form since. He did start to recreate that form towards the end of last season though, going 13-9 with a 1.72 ERA and 94 strikeouts in 78 1/3 innings in his last 12 starts.
His overall season was disappointing finishing with a 13-9 with a 3.30 ERA, 1.33 WHIP and 194 strikeouts in 182 2/3 innings.
His 9.6 strikeouts per nine innings was the highest K-rate in his career.
He will join Chris Tillman and Wei-Yin Chen at the top of the rotation in Baltimore with Bud Norris likely to be the fourth starter with new signing Suk-min Yoon competing for fifth spot alongside Miguel Gonzalez and Kevin Gausman.