The Chicago White Sox and the San Diego Padres have agreed to a deal in principle that would send pitcher James Shields to Chicago, according to Jon Heyman on Twitter.
Shields has been discussed off and on over the last year as a possible Texas Rangers trade target, but with the Rangers having a solid five man rotation at this point, there's little need for Texas to look at adding Shields, and the $21M per year he's due through 2018, although Bob Nightengale indicates the Padres will be eating roughly half of the money due to Shields in this trade.
Shields does have an opt-out clause after this season, which potentially complicates matters as far as a trade goes, but it seems unlikely he would be opting out, given that he turns 35 in December, and is in the midst of his second straight underwhelming season. There is also a team option on Shields' deal for $16M in 2019, with a $2M buyout.
Fernando Tatis, Jr., the son of the former Ranger, is reportedly one of the players who would be going to San Diego in this deal, according to reports.
UPDATE -- Ken Rosenthal tweets the deal is done, and Erik Johnson is going to San Diego along with Tatis.