The Los Angeles Angels have reached an agreement with Joe Maddon to make him their next manager, the team announced Wednesday.

Maddon is expected to receive a three-year contract in the $12 million to $15 million range, a source told ESPN. He will be formally introduced by the Angels at a news conference next week.

"We are thrilled that Joe is coming back home and bringing an exciting brand of baseball to our fans," general manager Billy Eppler said. "Every stop he has made throughout his managerial career, he has built a culture that is focused on winning while also allowing his players to thrive. We believe Joe will be a great asset for our club and look forward to him leading the team to another World Series championship."

OFFICIAL: The Los Angeles Angels have agreed to terms with manager Joe Maddon. pic.twitter.com/PKZHBaljl8 — Los Angeles Angels (@Angels) October 16, 2019

Maddon, 65, is returning to the Angels organization -- with which he spent the first three decades of his career -- after managing the Chicago Cubs for five seasons and leading the franchise to its first World Series title in 108 years in 2016.

"I could not be more excited to come back home and manage this great organization," Maddon said in a statement. "I'd like to thank Arte Moreno, Billy Eppler and John Carpino for giving me the opportunity to add another chapter to my Angels career. I was lucky enough to be a part of the first Angels team to win a World Series title and I look forward to the opportunity to bring Angel fans their second championship."

The three-time Manager of the Year had been linked to the Angels job ever since the team fired Brad Ausmus on Sept. 30, a day after Maddon and the Cubs announced they were parting ways.

The Angels finished 72-90 during Ausmus' only season as manager, and the franchise has made the playoffs just once in the last 10 seasons -- getting swept by the Kansas City Royals in the 2014 American League Division Series.

The Angels also interviewed veteran managers John Farrell and Buck Showalter and Padres hitting coach Johnny Washington for the job, but Maddon, who was expected to be a valued candidate for other managerial openings around the majors, was the choice. He kept a home in Long Beach during his 14 seasons away from Anaheim, and he has fond feelings for the organization that gave him his start.

Maddon signed with the Angels as an undrafted catcher in 1975, and he spent the next 31 years working at almost every level of the organization as a player, coach and manager. He served as a big league coach under five managers, and he had two stints as the Angels' interim manager.

His last six seasons with the team (2000-05) were spent as Mike Scioscia's bench coach, a span that included the Angels' championship season in 2002. Maddon left to manage the Tampa Bay Rays for nine mostly successful seasons beginning in 2006. He led the team to its only World Series appearance in 2008.

Maddon signed a five-year, $25 million deal with the Cubs prior to the 2015 season, and the team finished above .500 in each of his five seasons. His .582 winning percentage ranks second in franchise history behind Frank Chance's .664 (768-389 from 1905 to 1912).

In 2016, Maddon guided Chicago to 103 regular-season wins and then a long-awaited World Series title. He was credited with changing the culture and creating a loose atmosphere for his players during a pressure-filled time when they were picked by many to win it all.

Only Bill McKechnie (Reds, Pirates and Cardinals) and Dick Williams (Red Sox, Athletics and Padres) have led three different franchises to World Series appearances.

Maddon inherits a franchise in turmoil following an Outside the Lines report that team employees allegedly were aware of Tyler Skaggs' opioid use prior to the pitcher's July 1 death and didn't inform the commissioner's office. The Angels could face significant sanctions from Major League Baseball if it finds that the allegations were true.

ESPN's Jeff Passan and Jesse Rogers and The Associated Press contributed to this report.