UPDATE, 6:19: The statement from Rays executive VP Andrew Friedman didn't say much: “It has always been our policy not to comment on rumors or unconfirmed reports."

Rays players seemed very pleased when told by reporters of the news.

"I hope this really does happen - it's the best move this organization can make. To me, he's the best in the game,'' Carlos Pena said. "You tell me that, I'm like, Man, I can't tell you how much I would love to just play for him all my life. ... He started this culture, he built it."

UPDATE, 5:14: Officially, Maddon said he can't say much - for now:. "Officially, I have no comment because it's an ongoing matter and it's our team policy to not really comment on those things. At the appropriate time we will obviously, but it's just not the appropriate time yet.''

The Rays are expected to issue a statement shortly, though it may be essentially a no-comment as well.

NEWS: The Tampa Bay Rays are expected to announce a three-year contract extension for manager Joe Maddon in the next few days.

The sides have agreed to terms, the Times had learned. An announcement is expected soon, probably this weekend in Miami. Joe Maddon, 55, is in his fourth season with the Rays, having taken them on their amazing run to the World Series last season. Overall, he has a 244-283 record.

Joe Maddon is in the final year of his current contract. The new deal would take him through the 2012 season.

Agent Alan Nero said he could not comment on the situation and referred comment to team officials. They have not yet been reached.

Approached on the field before batting practice, Maddon said: "I can't talk about it until the appropriate moment, and we haven't arrived at the appropriate moment yet."

The Rays were expected to wait until the end of the season to address Maddon's contract situation, but apparently decided to act sooner and approached him recently, likely within the last week. He has been very open about wanting to stay. Acting now would eliminate any questions about his future and the team's direction given the slow start this season.

[James Borchuck | Times]