Bogaerts' reported agreement comes hours after the Padres reportedly missed out on shortstop Trea Turner, who signed with the Philadelphia Phillies and outfielder Aaron Judge, who re-signed with the New York Yankees.
"Shortstop Xander Bogaerts and the San Diego Padres are in agreement on an 11-year, $280 million contract, a source familiar with the deal tells ESPN," Passan tweeted. "A monster contract and the Padres, after missing Trea Turner and Aaron Judge, get the longtime Red Sox shortstop."
Bogaerts was a member of two World Series teams and made four All-Star game appearances during his 10 seasons with the Boston Red Sox, having made his Major League Baseball debut at the age of 20.
The 30-year-old is coming off a season in which he hit for a .307 batting average and .456 slugging percentage with 15 home runs and 73 RBIs.
The Padres reportedly entered the offseason with the intention of adding another big bat to their lineup, which already includes Juan Soto, Manny Machado and Fernando Tatis Jr., who also plays shortstop and is currently suspended through April 20 in relation to testing positive for PEDs in August.
"The Padres went into this winter targeting a big bat to add to a lineup that already includes Juan Soto, Manny Machado and Fernando Tatis Jr. They got it and more in Xander Bogaerts, one of the game's purest hitters, and gave 11 years to the 30-year-old," Passan tweeted.