Early this morning, it was confirmed by a source to Soccer By Ives that David Beckham would be announcing his return to the LA Galaxy at the press conference tomorrow. Yahoo Sports claims that press conference is likely to be held in a downtown AEG property, either Staples or at LA Live. The Galaxy held their MLS Cup celebration party at Staples, and had their third kit unveiling at LA Live.
Yahoo Sports is also reporting that allowing Beckham time off to be an ambassador for the London Olympics, as well as playing in them, was a key component in Beckham returning. Paris St. Germain, Beckham's most vocal suitor, would have been in offseason during the Olympics. PSG could also offer Beckham more money.
This could mean that PSG was not so much a place Beckham hoped to land, but rather a tool to get leverage on the Galaxy where a 36 year old man would not usually have leverage. Keep in mind, this is a man who claimed he had to leave the Cup part early to take his kids to school. Putting family first, especially when the kids are school age and a baby in the house, usually doesn't mean moving across a continent and an ocean.
The full story won't come out until tomorrow's press conference, if the conference is indeed happening tomorrow. Beckham does have an online chat planned via Google+ for that morning. Contract details will likely trickle out over the next month.