SUNDAY: The incentives in Colon's contract include provisions should he pitch in relief, according to the San Francisco Chronicle's Susan Slusser. Moving Colon to the bullpen would allow the A's to use other relievers as trade bait, opines Slusser.

SATURDAY 9:37pm: Joe Stiglich of The Bay Area News Group reports (on Twitter) that the deal could be worth more than $5MM if Colon hits all of his incentives.

4:15pm: Colon's deal has a base salary of $3MM with a good incentives package, a source tells Susan Slusser of the San Francisco Chronicle (via Twitter).

3:20pm: The A’s announced that they have re-signed right-handed pitcher Bartolo Colón to a one-year contract. Terms of the deal are not yet known for the Wasserman Media Group client.

Colon turned in a 3.43 ERA with 5.4 K/9 and 1.4 BB/9 through 24 starts before a positive test for testosterone landed him a 50-game suspension in August. The 39-year-old still must serve five games of that suspension in 2013.

The right-hander made just 47 starts from 2006-2009 and missed the 2010 season but turned in a strong 2011 for the Yankees. For his career, Colon has a 4.05 ERA with 6.9 K/9 and 2.9 BB/9.

Mike Axisa and Edward Creech contributed to this post.