UPDATE, 11-28-07 at 10pm: Olney is still certain Percival is going to the Rays on a multiyear deal. One other note is that the Giants had been in on him.
UPDATE, 11-28-07 at 7:40pm: Not so fast, says Ken Rosenthal. The Rays may be in the lead on Percival because he is close to Joe Maddon and they’ll offer two years. But the Yankees are in the mix offering a setup role and the Brewers are offering a one-year deal and a closer job.
FROM 11-28-07 at 3:40pm:
According to ESPN’s Buster Olney, the Rays are "moving toward a deal" to sign free agent reliever Troy Percival. This could give them a potentially solid veteran relief group in Juan Rincon, Dan Wheeler, Percival, and Al Reyes.
Percival was known to have been seeking a multiyear deal (I’m guessing two years, $10MM or so). Other suitors: Yankees, Brewers, Giants, and Astros.