MILWAUKEE -- Brewers officials could not discuss their two-year pact with first baseman Prince Fielder during a briefing with reporters on Thursday afternoon, but the muzzle should come off within the next 24 hours.

General manager Doug Melvin confirmed that the team was putting the finishing touches on a deal with Fielder that would buy out the first two of Fielder's three arbitration seasons. Melvin could not discuss the matter publicly because Fielder had to first pass a physical to make the contract official.

"I would say there is a good possibility we could have an announcement [Friday]," Melvin said.

If that's the case, the team would probably hold its official announcement for "Bob Uecker's Winter Warm-Up," a variety show-style event at the Riverside Theater on Friday night. Brewers players, including Fielder, will attend both that event and Saturday's "On Deck" program.

The Milwaukee Journal Sentinel reported that Fielder passed a physical on Thursday. According to an SI.com report on Friday morning, Fielder is guaranteed $18 million in the deal: a $6.5 million salary in 2009, $11.5 million in 2010 and a $1 million signing bonus.

The report said Fielder can earn an additional $500,000 if he reaches 500 plate appearances, a milestone Fielder should easily reach if he stays healthy. He has had at least 648 plate appearances in all three of his full seasons with the Brewers.

It could be one of two signings announced on Friday. Melvin said the Brewers were on the verge of a deal with veteran utility man Craig Counsell, who lives in the Milwaukee area and could also attend Friday's event.

"We weren't going to lose [Fielder], but it's a matter if knowing what his salary is for the next two years," Melvin said. "That's the reason we are engaged in those conversations now."

Fielder, 24, is just entering arbitration-eligibility and is under Brewers control through the end of the 2011 season. But signing a two-year pact now would offer the player a bit of security and the team the benefit of payroll certainty. It would also allow both sides to avoid the sometimes uncomfortable arbitration process this year and next.

The Brewers had renewed Fielder's contract before each of the past two seasons after being unable to come to terms with Boras on the player's worth. Fielder was particularly upset in March 2008, when the Brewers, using a club formula for their pre-arbitration players, assigned him a $670,000 contract. He vowed at the time that, "my time is going to come."

With his entry into the salary arbitration process -- generally, though not always, reserved for players with more than three but fewer than six seasons of Major League service -- that time arrived. Fielder and Boras were seeking an $8 million salary in 2009, while the Brewers filed Tuesday for $6 million.

By that time, talks were already under way about a multi-year deal. Typically, teams like to lock in players through at least one of their free-agent years, but the Brewers decided two years with Fielder was better than one.

Fielder became a full-time Major Leaguer in 2006, but his breakthrough season came in 2007, when he finished third in National League MVP balloting with a 50-homer, 119-RBI campaign. He did not match those lofty numbers in 2008, but still enjoyed a solid season, batting .276 with 34 home runs and 102 RBIs.

The Brewers still face the prospect of an arbitration hearing with two players. Outfielder Corey Hart is seeking $3.8 million, and the team offered $2.7 million. Second baseman Rickie Weeks is seeking $2.8 million, and the Brewers offered $2 million.

According to assistant general manager Gord Ash, the team has not negotiated with representatives for Hart or Weeks since the sides swapped figures on Tuesday.