The contract, if finalized, will be for between $100 million and $110 million over six years, according to scources, and including a seventh-year option. Bailey would be eligible for free agency after the 2014 season, but there is optimism the long-term deal will be consummated.
Bailey, whose arbitration hearing is scheduled for Thursday, is said to haave a fallback one-year option, so it appears baseball's final hearing won't be necessary, either way.
The Cleveland Plain Dealer first reported the deal being talked about was for about $100 million.
Bailey, 27, is 49-45 lifetime and was 11-12 with a 3.49 ERA last year.