UPDATE: Polanco has passed the physical, and the Phillies have officially announced the signing. The dollar figures below are accurate.

A baseball source confirmed to the Inquirer this afternoon that Placido Polanco will probably finalize his contract with the Phillies later today.  Polanco has agreed to a deal to become the Phils next third baseman, barring an unforeseen hitch in the physical.

For an analysis of Polanco versus Pedro Feliz, click here.