"We are very close," said Skip Stolley, vice-president of running events for Pro Sports & Entertainment Inc.
"We hope to be able to make an announcement on Monday or Tuesday," Stolley said via telephone from his Los Angeles office.
The race, over 60 metres, would be Jones's first anywhere since the birth of her son last June.
She is likely to compete in several European indoor meetings later this year before turning her attention to winning multiple medals at August's Athens Olympics.
"I think she knows she has a fairly long trek up the mountain to be a contender for three or more medals at Athens and
"Her fall training has been way ahead of schedule."
Jones, who is training in the Cayman Islands, has not competed indoors since March 1998 when she tied the American 60-metre record of 6.95 seconds at Maebashi, Japan.
Her last outdoor race was in September 2002 when she won the 100 metres at the IAAF World Cup of Athletics in Madrid.
Jones did not compete during the 2003 season while awaiting the birth of her son Tim with her boyfriend, 100-metre world record holder Tim Montgomery.
She won a record five medals at the 2000 Sydney Olympics, including gold in the 100 and 200 metres and the 4x400-metre relay. She has indicated she would like to try for multiple golds again in Athens but has not specified the events.