From MLB Trade Rumors:

"According to ESPN's Buster Olney, the Rays are "moving toward a deal" to sign free agent reliever Troy Percival.  This could give them a potentially solid veteran relief group in Juan Rincon, Dan Wheeler, Percival, and Al Reyes.

Percival was known to have been seeking a multiyear deal (I'm guessing two years, $10MM or so).  Other suitors: Yankees, Brewers, Giants, and Astros."

And Rotoworld:

"ESPN's Buster Olney reports that the Rays and free agent Troy Percival are working on a deal.
He's believed to have offers from contenders, so we can't imagine that Percival would go to Tampa Bay without a promise of the closer's role. That'd make Al Reyes the eighth-inning guy, with Dan Wheeler and Juan Rincon working earlier in games. Only three spots would remain for a token lefty, Gary Glover, Chad Orvella, Grant Balfour, Scott Dohmann and others."