From the Atlanta Journal-Constitution’s David O’Brien :

Tom Glavine, the  41-year-old former Braves ace agreed to terms late Sunday on a one-year, $8 million free-agent contract to return to the team, a person familiar with negotiations told the Atlanta Journal-Constitution.

The addition gives the Braves a potentially formidable rotation that includes veteran returners John Smoltz, Tim Hudson, Mike Hampton (if healthy) and Chuck James.

Others who could compete for a spot include rookie lefty Jo-Jo Reyes; rookie newcomer Jair Jurrjens, acquired from Detroit in the Edgar Renteria trade last month; and Jeff Bennett, who was impressive in a late-season callup and has been outstanding so far in the Venezuelan Winter League.

Glavine was willing to take a “hometown discount” for the opportunity to live at his Alpharetta home with his wife and four children during the season, instead of having to travel back and forth to Atlanta or fly his family in to see him on weekends during the school year.

The Braves’ initially offered $6.5 million on Friday, quickly raised that to $7 million, and by Sunday night agreed to go to $8 million, which Glavine believed to be a fair discount. It’s a relatively simple contract, with no performance incentives or any options or buyouts.