According to Katie Woo of The Athletic, and confirmed through multiple other outlets, Cardinals’ All-Star and MVP-candidate third baseman, Nolan Arenado, will be opting in to his remaining contract with the club.
Nolan Arenado has informed the Cardinals organization he will be opting into the remainder of his five-year, $144M contract, a league source told @katiejwoo.— The Athletic (@TheAthletic) October 29, 2022
St. Louis now has the third baseman locked up through 2027.https://t.co/O6csvwSoS5
Reports indicate that Arenado met with club President of Baseball Operarions, John Mozeliak, recently at his home in California. Mozeliak affirmed in his offseason press conference that he hoped there would be a positive resolution with the Arenado situation and that it would come soon.
Arenado had twice agreed to defer money from his current deal, forecasting his desire to remain a Cardinal through the length of his career. Perhaps the only surprise in this news is that no additional changes in Arenado’s contract were announced. Many fans and media members had speculated that Arenado might ask for an additional year or money in order to secure the opt-in.
Instead, Arenado displayed a willingness to remain a Cardinal on a deal that will secure him financially for life while not overly hampering the team’s budget.
This approach was reflected by Adam Wainwright who agreed to a second consecutive $17.5M deal, but was willing to defer $10M of his contract to his retirement years.
Arenado opting in also secures additional funds from the Rockies to offset the contract. While sources vary on the amount, the AP has previously reported that the club will receive a total of $21M from COL this season.
Combined with Wainwright’s deferrals, the Cardinals have approximately $30-40M in budget space this offseason. I will provide an update to the payroll situation soon to reflect the new deals.
If any additional information breaks, we will update this thread.