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01/16/13 2:55 PM ET

Angels working to let pitcher Reyes out of contract

ANAHEIM -- The Angels and Jo-Jo Reyes are finalizing an agreement that would release the veteran left-hander from his contract and allow him to join the SK Wyverns of the Korean League, sources confirmed to MLB.com on Wednesday.

Reyes, 28, signed a Minor League deal with a Spring Training invite in November, and was going to start for the Triple-A Salt Lake Bees in 2013. When SK recently asked for permission to negotiate with Reyes' agency, though, the Halos granted it.

And as of Wednesday morning, the Angels and Reyes' representation were finalizing parallel negotiations with SK that would get him to play for a more lucrative contract in the Far East and would bring the Halos compensation. The move, however, is not yet done.

Originally a second-round pick by the Braves in the 2003 First-Year Player Draft, Reyes went 12-26 with a 6.05 ERA in 334 2/3 Major League innings from 2007-11, pitching for the Blue Jays and Orioles in that final season. In 2012, he went 6-2 with a 2.67 ERA in 17 games (nine starts) for the Pirates' Triple-A affiliate.

Alden Gonzalez is a reporter for MLB.com. Read his blog, Gonzo and "The Show", and follow him on Twitter @Alden_Gonzalez. This story was not subject to the approval of Major League Baseball or its clubs.