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01/24/12 3:17 PM EST

A's agree to one-year deal with righty Colon

The Athletics have agreed to a one-year deal with right-handed starting pitcher Bartolo Colon, the club announced Tuesday.

According to a source, the deal is worth nearly $2 million, and could include a signing bonus.

Colon, 38, has played 14 seasons in the big leagues, most recently with the Yankees. He proved to be reliable at the back end of New York's 2011 rotation, winning eight games with a 4.00 ERA.

The right-hander did not pitch in the big leagues in 2010, and had not won more than six games since his 2005 campaign with the Angels, when he won 21 and was the recipient of the American League Cy Young Award.

Joey Nowak is a reporter for MLB.com. Follow him on Twitter at @joeynowak. This story was not subject to the approval of Major League Baseball or its clubs.