According to Gordon Edes of ESPNBoston.com, Roy Oswalt will make an announcement on Thursday.
The nature of the news isn't yet clear. Edes hears that the Red Sox aren't sure what he will do, though one source said they still have interest in him. Oswalt would reportedly prefer to pitch for the Cardinals or Rangers, but both teams already have full rotations and likely won't give him the contract he desires. Stay tuned.