WEDNESDAY, 10:51am: Tom Haudricourt of the Milwaukee Journal-Sentinel has Hoffman's contract details; the deal was announced by the Brewers today.
MONDAY, 1:50pm: Ken Rosenthal of FOX Sports says Hoffman's mutual option for 2011 could be worth up to $8.5MM depending on games finished in next year. The option has a $500K buyout attached, and that "could increase to $1MM if Hoffman finishes 40 games."
10:17am: Closer Trevor Hoffman has agreed to terms with the Brewers on an $8MM contract for 2010, according to ESPN's Buster Olney. The deal also includes a mutual option for 2011.
Hoffman, 42 in a week, experienced a resurgence in 2009 despite spending most of April on the DL with an oblique injury. His strikeout and walk rates actually worsened a bit, but he was able to drastically limit hits and home runs. The Brewers are betting big bucks that those hit and home run rate reductions are somewhat sustainable.