Jim Utter is reporting via his Lucky Dog blog, that  Greg Biffle has signed a contract extension with Roush Fenway Racing. An announcement could come as early as this weekend.

The team, however, would not confirm that Biffle had agreed to an extension.

A little over a week ago , Biffle said that he had no interest in testing the free agent market because of the economy, and improvements that RFR made.

Last month, it was reported that the two sides were close to a deal. Back then, Biffle was rumored to be considering a two-to-three-year deal. The contract was also expected to be significantly less than the deal he signed in 2008, due to economic conditions.

Update: RFR announced that Biffle and 3m both signed three-year contract extensions with the team. Terms of the deal were not disclosed.

Team owner Jack Roush said:

I am thrilled with the prospect of continuing the relationship we have with 3M and what that, paired with the talent of Greg Biffle, means for the success of the #16 team at Roush Fenway Racing. … Our endeavors with 3M have been successful both on and off the track and will ideally culminate with a championship season for Greg and 3M in the near future.