Shields deal set; announcement Wednesday

UPDATE (11:40 p.m.)
The new deal could pay Shields more than $38-million over the full seven years, the Times has learned. Plus there are incentive clauses that could push the total value to more than $40-million. The guaranteed portion of the deal - the first four seasons and a buyout of the options - is believed to be worth about $12-million.

UPDATE (10:21 p.m.)
The Rays have completed the long-term contract with James Shields and will announce it Wednesday at a 2 p.m. media conference. "It's a done deal,'' agent Page Odle said after leaving a meeting. The contract could keep Shields with the Rays for seven seasons, through 2014, with the first four years guaranteed and the Rays holding options for the next three.

-------

Rays pitcher James Shields' agent is meeting with the Rays tonight to finalize a long-term contract that, with options, could keep the righthander with the team for the next seven seasons.

"My goal is to have this done tonight,'' agent Page Odle said.

The deal is expected to be completed and announced on Wednesday. The Rays have scheduled what they describe as a "major announcement regarding a player signing" at 2 p.m. Shields was in St. Petersburg on Tuesday for physical exams.

"We have a couple of issues to still resolve,'' Odle said. "The years and terms are still being talked about. There's a couple different scenarios.''

The deal, which likely will include up to three options years, would be somewhat unusual in terms of length (especially for a starting pitcher, given the usual injury risks) and because Shields, with 1 year and 125 days of major-league service, won't be eligible for arbitration until 2010 and free agency in 2013.

The deal would go into effect for the upcoming season and is likely to be similar in structure to the contract the Rays gave OF Rocco Baldelli in November 2005, in which three years were guaranteed (for $5-million, plus a $4-million buyout) and the Rays held options for three more seasons (that could be worth another $23-million).

By extending the deal to all seven years, the Rays would have the opportunity to "buy out" Shields' first two seasons of free agency. He is under team control for the 2008-09 seasons (with projected salaries in the $425,000-$475,000 range) and would be eligible for arbitration the next three seasons. (There is a slim chance he could be eligible for arbitration in 2009 as a "Super Two" player based on how many other players have between two and three years' of service time.) 

In essence, the Rays would get cost certainty over the length of the deal and the potential for a bargain while Shields would get the security of guaranteed millions.

Shields, 26, was 12-8 with a 3.85 ERA last year in his first full major-league season, throwing 215 innings (10th most in the AL) despite skipping his last two starts under team orders. His strikeout-to-walk ratio of 184-36 was second-best in the majors, and among the best in major-league history for a pitcher 25 or younger.

Rays principal owner Stuart Sternberg said last week the team was "optimistic" of completing the deal shortly.

Comments

[Paul]

This is a GREAT move by the Rays. Shields is already a good (soon to be very good) pitcher, because of his maturity and ability to control himself. He works his way out of trouble better than any other Rays pitcher and provides a solid role model for the young guys coming up behind him.

He should continue to be a top tier (borderline All-Star) for years to come.

[Westy]

What are they doing? 6 or 7 years are they serious? This guy MIGHT have 3 good years in him. Another slip up from the Stu Crew.

[thomas]

Nice job by the new ownership group so far

[billly]

Not sure if he is a top flight pitcher. Had a good year but will he keep up that?

[Pete]

The length of the deal may be long, but what is the alternative? I would rather the Rays lock up their good young pitchers at reasonable prices than go fishing for mediocre pitchers via free agency. It beats overpaying for guys like Carl Pavano, Gil Meche, etc. I like the move.

[Ryan S]

Westy, why the hate? Pete is right, we dont need to be chasing the Gil Meche & Carlos Silva of the world. Let the Royals and Mariners have em. This is a great deal and in no way is this a 1 year wonder. Maybe if he had a 4.5 or 5 ERA and a high K to BB ratio and managed to win 15 games...then I could see and would agree with a 1 yr wonder. But when he was as solid as he was with a ultra low K/BB ratio then its a pretty good signal he's a true #2 to this rotation with Kazmir or eventually David Price being the ace.

GO RAYS!!!

[Timmy]

Decent pitcher so far in his very young career, lets wait for another good year before emptying the bank for him

[Richard]

Good thoughts, but if you wait and he has another great year, the price goes way up. Just like it will for Kazmir.

[Billy]

This is a good move in right direction. Just don't give him to much money. We have been down that road before.

[Gene]

Westy, you have to spend money to make money! Shields has given us two years, with significant progress made from the first to the second in terms of walks:K's, innings pitched and the ability to set up and then put away hitters. He developed other pitches to go with his change up and learned when to use them. He will certainly improve, maybe not as much as he did last year, but to have a #2 or 3 starter locked up is a luxury only the best teams have.

[Sean]

Westy, he might have 3 good years in him? How do you figure that? He best pitch is his change up, not alot of wear and tear on the shoulder. You know who elses best pitch is a change up? Johan Santana.

Shields would have been a 20 game winner this year if we had any kind of bullpen. He had a stretch where they blew like 5 leads from him in a row. Ridiculous.

[Jim]

Excellent! The Rays are smart to lock up Shields. He was the ace of the staff last year and is the most consistent pitcher on the Rays staff. Kazmir hasn't put a full season together w/o getting hurt or having horribly high pitch counts & leaving in teh 4th inning. This town puts Kaz on too high of a pedistal as far as I'm concerned. I like Kaz, but have more faith in Shields providing quality innings. He's more durable and is a smarter pitcher with a great selection of pitches.

[Wesly]

All I am saying is that 6 or 7 years is a LONG time. Alot can happen. This guy could break down. Its Wesly by the way, typo on previous entry.

[David]

I'm not sure i like this deal much, i guess the hope is to sign sheilds to a deal the Rays like before he wants too much money if he has a great year next season (which i'm asuming he will, he is always making progress). But the risk is huge here. If we were the Yankees and could afford dishing out 7 year deals then i'd be game, but for a team that is low-budget and that has a history of taking risks that blew up, this one might be a little much. Let's wait one more year before Shields is signed long term, no need to dish out all the bucks now.

[Jesiah]

Now thats what I'm talking about lock up shields whos been conciestent since joing the rays and will only improve as the team gets better, in addition to him getting better through experience. when are the rays gonna lock up Kaz though? He's the ace

[CharlieRay]

Come on guys. We banter & fuss no matter what they do. So far this managment has been on a role. Let them do their thing. They know wht's up when it comes to money. They want to have everyone in place to win a championship and we are close. What more can you realy ask from a very last place team. Have faith. Go Rays

[Tom]

Wesly, it's not a 7 year deal if the Rays don't pick up the options. There will be a minimum of 2 option years at the end. Probably 3 or 4. If Shields gets hurt or goes downhill, the Rays can just decline the options and pay him his buyout.

[Nick]

Don't you guys understand what pitching costs these days, even for bums? Whatever they spend is worth it. With pitchers, even if he underperforms for 2 years, someone would take a chance and they could make out in a good trade. There is NO downside.

[ryan callahan]

I love this deal. Shields is our best control pitcher, and will be a great addition to our rotation for years to come.

[Darrell]

Are you kidding me? The Rays are locking up good players and all the so called fans can do is complain about the deal being 7 years! You guys are never happy, The bottom line is they are opening up the checkbook to improve the Rays for a run in October!
These are great moves they are doing and players around the league will start to notice if they work & might want to come to Tampa Bay & play instead of making jokes about the organization. Just shut up and starts buying tickets you whiners!

[Joe]

Some of you guys are morons crying about the 7 year deal being to long. It's only THREE guaranteed......so after three years he's injured or sucks @ss, then he's done........so it's a GREAT deal.

[Gary]

Some people here complain just to see or hear themselves complain.Give the Rays a break.Our future looks far more promising than at anytime in our history.We will be in the playoff hunt within 1-2 years.No one can match our young talent. Now the Rays are beginning to lock up the core of young talent.

[Ryan S]

The Rays made a great move now they need to do the same with Kazmir. They are also going to have some hard decisions to make very soon. Upton is going to want a new deal and Garza is not too far off from wanting one also...by that time Crawford will be commanding 12-14 mil per. Payroll could easily push 80mil just to keep our players and I dont know they'll do it without the new stadium. These are all great problems to have though!

GO RAYS!!!

[Joe]

When the contracts get that big you'll see 'money ball.' They'll trade Crawford, after giving us a lot of good years, for 2 or 3 top prospects. Then, you only need 1 out of the 3 to pan out for it to be a good deal.

[rayray]

Way to go FO for locking up armoured Shields b/c he really pounds the strike zone down, away & inside w/his filthy control of 3 pitches.He doesn't fall behind hitters (w/the 2nd best strikeout-to-walks ratio in MLB) thus keeping them off balance & pressuring them into hitting his pitches.

Shields was quoted as saying "the Rays are going to be something special, & I want to be apart of it"; well Shields, we feel the same about you & are we're glad to have in the fold for years to come.