Originally he had only one opt-out after the '21 season. The Cardinals asked to restructure his deal to give him the second opt-out in '22 and to defer some of his compensation beyond the original 6 years remaining on the deal.
I think that restructuring is going to be a good deal for the Cardinals. There's no way Arenado opts out after the '21 season. The free agent market next year will be softer for Arenado because teams will have less revenue in '21 still b/c of the pandemic. In addition, with the new collective bargaining agreement needed before the '22 season, it would be too risky for Arenado to walk after '21. Finally, there are so many good young shortstops hitting free agency in '21 (Lindor, Seager, Correa, Baez, Story), the big money is going to go to them and it will be a tougher market for Arenado, who is both older and in a less premium position. He won't opt out in '21.
I think the '22 opt out is brilliant for the Cardinals. If Arenado wants to walk after his age 32 season for greener pastures, fine with me. The Cardinals have several young 3B prospects, and we all know most players start declining in their mid-30s.
If he stays after '22, that's fine, too. Even if he declines, he'll probably still be better than most 3B, and with the deferred compensation, the Cardinals will still have room to pay Flaherty or acquire other talent.
The Cardinals essentially are getting Arenado for a six year deal at $150 million because the Rockies are going to cover $50 million. That's a good deal. Yes they are giving up a handful of young players, but none of them are going to be world beaters.
This is a good deal for the Cardinals. Better than I would have imagined it would have taken to pull off.
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