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|Cardinals Lock Up Slugger Holiday
|NEW YORK (AP) -- A person familiar with the negotiations says outfielder Matt Holliday and the St. Louis Cardinals have agreed to a $120 million, seven-year contract.
St. Louis announced Tuesday it had reached agreement on a multi-year deal subject to a physical and a formal announcement was likely by Thursday.
The person who discussed the contract terms with The Associated Press spoke on condition of anonymity because the team didn't reveal those details.
Holliday's agreement, which includes a $17 million vesting option for 2017 with a $1 million buyout, is baseball's largest of the offseason. It contains deferred money that lowers its annual present-day value to about $16 million.
The Cardinals acquired Holliday from Oakland in July and he helped lead them to the NL Central title.
(Copyright 2010 by The Associated Press. All Rights Reserved.)