The 24-year-old Setanta, a former Young Hurler of the Year, is now a regular in the Carlton first team having steadily worked his way up since signing as a rookie in 2003, while his brother Aisake, 22, was recently promoted to the Blues' senior squad.

Shields, who helped Cork win the All-Ireland Under-21 title this year, impressed the Carlton coaches during a three-week trial that began at the start of this month. He played at right corner back for Cork in September's All-Ireland SFC final loss to Kerry.

Carlton's Football Operations manager Steven Icke told the club's website: "We have been very impressed with Michael during his trial period. He has shown a great desire to learn and has started to pick up the many facets of the game.

"Michael has been an enthusiastic contributor on the track and his willingness to learn augurs well for him."

Shields is travelling back to Ireland today and will spend Christmas at home before returning to Carlton for pre-season training in the new year.

It is anticipated that he will play in the half-back line of Carlton's feeder club, the Northern Bullants, in the new season, as well as working closely with Carlton's development coaches David Teague and Matthew Lappin.

Despite finishing second-from-bottom in the 2007 AFL Premiership table, Carlton, who took home AUS$200,000 (€118,900) for winning the NAB Cup, have been able to announce their first profit since 2003.

Having incorporated the social club's operations, the Blues announced a AUS$2.94m (€1.74m) profit for the year and have benefited from increased membership, merchandising and attendance figures.

Shields' signature completes a busy spell of Irish recruitment for some of the AFL's leading clubs. In the past two months, Armagh youngster Kevin Dyas has signed for Collingwood, Sydney has recruited Carlow's Brendan Murphy, while Mayo talent Pierce Hanley has also joined the Brisbane Lions.