Los Angeles - Former England captain David Beckham will be returning to the LA Galaxy on a fresh contract to be formally announced on Thursday, the Los Angeles Times has reported.
However, there was no immediate confirmation by the Galaxy on Wednesday.
Beckham's five-year deal with the Galaxy concluded on December 31 and there had been widespread speculation the former Manchester United and Real Madrid midfielder was considering offers from Paris St Germain and a number of English clubs.
Earlier this month, Paris St Germain said Beckham would not be joining the big-spending French Ligue 1 soccer club due to family reasons.
Galaxy's owners have continually indicated a new deal is on offer to the 36-year-old Beckham, who has kept his intentions very close to his chest and refused to discuss his future after the end of the 2011 Major League Soccer season.
On its website, the LA Times said on Wednesday Beckham had reached agreement with the Galaxy on a new contract for the 2012 season, which begins in March.
"Details of the contract were not immediately available but it is expected to call for a summer sabbatical from MLS play, allowing Beckham to play for the English (British) team in the London Olympics," the Times reported.