Saturday night, Thomas' agent, Drew Rosenhaus confirmed the deal.
"It is going to be signed in the next couple of days," Rosenhaus was quoted as saying by The Associated Press.
The deal includes a $1 million base salary, a $1 million signing bonus and a $1 million incentive-based bonus based on playing time that Rosenhaus said should be easily attained.
Thomas, 34, who was released by the Miami Dolphins two weeks ago, following a 2007 season in which he was limited to just five appearances, chose the deal from the Cowboys over contract proposals from the New England Patriots and the New Orleans Saints.
A 12-year veteran, and one of only three players in modern NFL history to register 100-plus tackles in each of his first 10 seasons in the league, Thomas was released by the new Miami football regime on Feb. 14 after a celebrated stint with the Dolphins.
Meanwhile, for reasons I have no idea what they were thinking.....
"It's still a great opportunity for him [in Chicago]," his agent, Eugene Parker, told ESPN.com.
Under terms of the deal, Grossman will have a $3 million base salary. He can make close to $2 million in incentives as long as he's the starting quarterback.
Several players on the Bears offense were pushing for Grossman to return as quarterback.
His best season was in 2006 when he started 16 games, passed for 3,193 yards, threw 23 touchdown passes and helped to take the Bears to the Super Bowl. He struggled in 2007 and started only seven games.
Maybe the Bears were thinking about how they could find ways to lose more games than they could win and how they could drive all their fans crazy as they watch Grossman throw interception after interception with an occasional touchdown to make fans believe as if he was the real deal.