10:25am: Valverde told Enrique Rojas of ESPN Deportes that he does not have a deal with the Diamondbacks and has recently switched agents. Formerly with Scott Boras, he is now represented by Praver/Shapiro (Spanish Twitter links).
With this deal, the 36-year-old Valverde returns to the organization that signed him as an international free agent in 1997. "Papa Grande" spent the first five seasons of his career with the Diamondbacks (2003-07), leading the National League with 47 saves in his final season there. He was then traded to the Astros for Chris Burke, J.C. Gutierrez and Chad Qualls that offseason.
Most recently, Valverde is known for his work with the Tigers. Valverde posted a 3.00 ERA with 7.9 K/9, 4.1 BB/9 and 110 saves from 2010-12. However, he began to unravel late in the 2012 season and in the 2012 playoffs. He would eventually return to the Tigers in May 2013, briefly solidifying the closer role before allowing six home runs in eight appearances. The end result was a 5.59 ERA that caused the Tigers to designate Valverde for assignment.