According to a report from Joel Sherman, the Cubs offered Shields a three-year deal in the $60 million range with a vesting option for a fourth season. Jon Heyman indicated the Cubs were not willing to pay for Shields what the Padres landed him for, a contract in the $75 million range.
Updated 9:38am CST – According to Jon Heyman, Shields’ contract is four years and $75 million with a fifth year club option. The amount of the option and buyout is unknown at this point.
Updated 11:10am CST – James Shields’ contract is four years and a guaranteed $75 million that includes a buyout on the fifth year. The club option for the fifth season is $16 million. Shields can earn a maximum of $91 million if option is picked up. Deal is not believed to include an incentives package.
According to a report from Chris Cotillo, James Shields agreed to terms on a four-year contract with the San Diego Padres.
As expected the four-year deal is in the $72-78 million range and reportedly includes a club option for a fifth season. The deal is not official, Shields still has to pass a physical.
From all indications, the Cubs appeared to make a late-push for Shields as his market came down to a range that allowed the Cubs to jump into the mix ten days ago. Joe Maddon and Jon Lester tried to recruit Shields according to Bruce Levine, but his desire to lead a rotation and pitch in San Diego overrode the relationship with his former manager.
The Cubs reportedly liked Shields on a three-year deal with a possible option for a fourth year. Bruce Levine indicated Saturday the Cubs valued Shields on a three-year contract for around $55 million.
Chris Cotillo is the only source of the report, likely due to the timing. Cotillo broke the story just before 1:00am CST on Monday morning.
The James Shields watch was expected to come to an end at some point Monday as he appeared late Sunday to be very close on a four-year deal in the $72-80 million range with the Padres.
According to reports from Dennis Lin, Shields wants to pitch in San Diego but the reason for the delay in his decision is that he may have been looking for a “sweetener” from the Padres.
The addition of James Shields should take the Padres out of the mix for LHP Cole Hamels. The Cubs have not been connected to Hamels by the mainstream media in a couple of months. But losing a team that was very interested in trading for Hamels might force Ruben Amaro Jr. and Pat Gillick to adjust their asking price.
At least the question is finally answered as to which team won the James Shields/Wil Myers trade.