Rays closing in on deal with James Shields

From The St. Petersburg Times:

Rays pitcher James Shields and agent Page Odle are on their way to St. Petersburg this afternoon with plans to finalize a 6- or 7-year contract in the next 24 hours.

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

We'll have more as it comes in.

According to the St. Petersburg Times:

The Rays have come to terms with James Shields on a 7 year $44 Million Dollar deal(includes possible incentives). The first four years of the deal will be guaranteed. The Rays hold options for 2012, 2013 & 2014.

Excellent deal for the Rays. With the cost of pitching rising at an insane rate, the Rays are getting a great deal. If Shields pitches like an average 3-4 starter, the Rays will be saving about 5-7 Million a year alone on this deal.