The Rays are close to finalizing a multiyear contract with right-hander James Shields and expect to announce the deal tomorrow. The Rays’ communications office issued an advisory shortly before 7 p.m. that a "major announcement regarding a player signing" would be made at 2 p.m. tomorrow.
As being reported by the Tampa Tribune , excellent news. I'd expect the final two years of the contract, however long it might be, to be team options.