The Padres have agreed to sign free agent right-hander James Shields to a four-year contract that includes a club option for a fifth season, according to major-league sources. The deal is currently pending a physical, and is likely to be announced early in the week. Shields will receive $75 million guaranteed, and the fifth-year option is for $16 million.

The signing of Shields caps off a remarkable offseason for the Padres, who have revamped their club with the additions of Wil Myers, Justin Upton, Matt Kemp, Derek Norris and Will Middlebrooks. Shields joins Andrew Cashner, Tyson Ross, Ian Kennedy and Odrisamer Despaigne in the team's rotation mix, pitching in a city in which he currently owns a home.

Shields, 33, is the last major free agent starter to sign with a club in a winter that has already seen Jon Lester join the Cubs and Max Scherzer sign with the Nationals on multi-year deals. His deal is expected to be in the $72-76 million range, according to sources.

Shields also drew strong interest from the Cubs and Marlins in recent days this winter, with multiple other teams jumping into the mix within the last week. He received multiple offers and was recruited heavily by many ex-teammates and ex-coaches with different clubs throughout the last few weeks.

In parts of nine major-league seasons with the Rays (2006-2012) and Royals (2013-2014), Shields is the owner of a lifetime 114-90 record and 3.72 ERA in 286 games (285 starts). He has logged more than 200 innings in every season since 2007, and posted a 3.21 ERA in 34 starts with Kansas City last season.