Oswalt, 34, has told teams that he plans to keep throwing, stay ready and would be willing to return during the season if nothing materializes before then. That approach would mirror what Clemens did in 2006 and 2007, when he returned in June to pitch for the Houston Astros and then the New York Yankees.
Oswalt's agent, Bob Garber, has told media outlets that Oswalt is planning to make an announcement Thursday, but provided no further details. Garber didn't respond to phone calls or texts for this story.
Oswalt is 159-93 with three All-Star appearances in 11 seasons with Houston and the Philadelphia Phillies. The Boston Red Sox, St. Louis Cardinals and Texas Rangers are among the clubs that expressed interest in Oswalt this offseason, but weren't able to fit him into their budget or starting rotation.
Senior writer Jerry Crasnick covers Major League Baseball for ESPN.com.
And when someone breaks our wings, we simply continue to fly...
Usually on a broomstick but we're flexible like that