Bartolo Colon has agreed to a one-year contract with the A's, a major league source told ESPN.com. The deal is pending a physical.
Colon, who will turn 39 in May, went 8-10 with a 4.00 ERA in 29 appearances for the Yankees last year. Before that, he hadn't pitched in the big leagues since the middle of the 2009 season because of elbow troubles, but he bounced back physically following controversial stem-cell treatments to become an important part of the Yankees' rotation.
The Diamondbacks and Yankees also had expressed interest in the veteran right-hander.
Colon went 6-2 with a 2.71 ERA in his first 11 starts last season but faded down the stretch after experiencing knee problems. After the All-Star break, he went 2-6 with a 4.98 ERA.
However, his average fastball velocity approached 92 miles per hour, according to Pitch F/X, the hardest he'd thrown in any full season since 2005.
The A's are looking to fill out their rotation after trading away Gio Gonzalez and Trevor Cahill this winter.
Jayson Stark is a senior baseball writer for ESPN.com.