Chad Billingsley, Dodgers near deal?

LOS ANGELES -- Los Angeles Dodgers right-hander Chad Billingsley wouldn't confirm Monday that he has reached agreement on a new three-year contract. But Billingsley did say he underwent a physical examination on Monday, a development that likely means an agreement has been reached in principle pending the outcome of that exam.

"We're talking, yeah,"' Billingsley said. "[But] nothing is done, and nothing is signed.''

Multiple sources who spoke on condition of anonymity confirmed that the sides were closing in on a deal that would pay Billingsley more than $30 million through 2014 with a possible option for 2015. Billingsley already has a one-year, $6.275 million contract for this season that he agreed to last winter, avoiding arbitration.

Billingsley said negotiations began sometime during spring training, but he didn't get more specific than that. The deal would buy him out of his final season of arbitration and at least his first two years of free-agent eligibility and would ensure that he is viewed as a cornerstone of the franchise's future.

"I started my career here in 2003," Billingsley said. "I love what this organization stands for. Hopefully, we can get something done."

Billingsley was the Dodgers' first-round draft pick in 2003 and was in the majors by 2006. He enters 2011 with a career record of 59-41 and a 3.55 ERA. He is scheduled to make his 2011 debut in the second game of the season on Friday night against the San Francisco Giants.

Tony Jackson covers the Dodgers for ESPNLosAngeles.com. Follow him on Twitter.