The Dodgers, who lost three players to free agency on Tuesday, are close to reloading in a big way Wednesday.
Free-agent pitcher Jason Schmidt and the Los Angeles Dodgers are closing in on a three-year contract worth $47 million, a source told ESPN.com.
While Dodgers officials weren't available to confirm the report, the team has been in the market for a starting pitcher, especially after losing Greg Maddux to the Padres on Tuesday.
Dodgers general manager Ned Colletti previously worked as a front-office executive while Schmidt was pitching for the Giants.
Schmidt's $10 million option for 2006 was exercised by the Giants, but knew they might lose him as a free agent this offseason. The 33-year-old right-hander seemed ready for a change of scenery from San Francisco, which has endured two straight losing seasons and three in a row out of the playoffs.