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11/18/11 1:00 PM EST

Report: Verbal agreement reached on CBA

Owners, players union hammering out final details, sources say

MILWAUKEE -- Major League Baseball and the MLB Players Association have agreed to a new labor deal, according to The Associated Press. An announcement of the new Basic Agreement is expected to come on Tuesday. The current deal expires on Dec. 11.

There had been a break in negotiations during the General Managers and Owners Meetings, which ended Thursday, and negotiations have since resumed. Rob Manfred, MLB's executive vice president of labor relations and human resources, left for a bargaining session in Chicago immediately after briefing the media.

"I'm really confident. I think we will finish an agreement," Manfred said. "It's hard to predict when anything is going to happen, but I think we've made good progress and I'm hopeful we'll push it over the finish line."

Labor talks have been conducted methodically and behind the scenes since January. It was hoped that they would be concluded last month by the end of the World Series. But issues involving the annual First-Year Player Draft had kept negotiators at the table. The big breakthrough occurred this past weekend when both sides resolved the matter by agreeing to a restraint on bonuses and changes to Draft-pick compensation for free agents.

Barry M. Bloom is national reporter for MLB.com and writes an MLBlog, Boomskie on Baseball. Follow @boomskie on Twitter. This story was not subject to the approval of Major League Baseball or its clubs.