Giambi returning to Rockies

Veteran slugger Jason Giambi has reached agreement to return to the Rockies for the 2010 season, sources said.

The deal, reportedly worth about $1.5 million, is contingent on a physical.

Giambi was effective in a pinch-hitting role with Colorado late last season, helping the Rockies into the playoffs.

The first report that a deal was close came from ESPN 1050 in New York.