UPDATE: The contract is reportedly for five years.
Source: Leake deal with #STLCards is for five years with an option and includes a full no-trade clause.
— Ken Rosenthal (@Ken_Rosenthal) December 22, 2015
Source: Leake deal is five years, $80M with mutual option that could increase total value to $93M/$94M range.
— Ken Rosenthal (@Ken_Rosenthal) December 22, 2015
-----
UPDATE: The two sides reportedly have a deal in place and it's pending a physical.
Source: #STLCards in agreement with Leake, pending a physical.
— Ken Rosenthal (@Ken_Rosenthal) December 22, 2015
-----
UPDATE: Jenifer Langosch of MLB.com says a deal could be "wrapped up" by the end of today and Cotillo says it's expected to be for five years and $75 million.
-----
Last night it was reported free agent starting pitcher Mike Leake could sign "very soon" and that the St. Louis Cardinals were considered a "strong contender."
Further rumors suggested the Cardinals were actually considered the favorite for the right-hander, who is believed to be seeking a five-year contract.
Chris Cotillo of SB Nation reported both of those developments and here's what he added this morning:
"The Cardinals are close to signing right-hander Mike Leake to a multi-year contract, according to multiple industry sources. Initial indications are that Leake may receive a 5-year deal from St. Louis, though that is not fully confirmed at this time."
Cotillo added Leake's representation and Cardinals general manager Jon Mozeliak have not responded to comment requests.
Late last night Rick Hummel of the St. Louis Post-Dispatch said the Cardinals were interested in a number of starters, such as Leake, Scott Kazmir, Yovani Gallardo, Ian Kennedy and Wei-Yin Chen, but noted they prefer the two starters not tied to draft pick compensation: Leake and Kazmir.
"Of the two, Leake probably would draw the most interest by the Cardinals because he is younger, has been an effective National League pitcher and, incidentally, been one of the top half-dozen hitting pitchers in the league," Hummel wrote.
Gallardo, Kennedy and Chen rejected qualifying offers from their incumbent MLB clubs, which means whoever signs one of them will have to surrender their first-round draft pick to that pitcher's former team.
The Cardinals gained two draft picks this offseason when both John Lackey and Jason Heyward signed with the Chicago Cubs.
It's unclear if the Cardinals are willing to offer a five-year contract to Leake, but they do have a need in the rotation after losing Lackey to Chicago and Lance Lynn to Tommy John surgery. As a result, the No. 5 spot in the rotation isn't determined right now, but one would assume Marco Gonzales, Tyler Lyons and Tim Cooney would be competing for that spot.
Aside from that, they'll be banking on Adam Wainwright, Michael Wacha, Carlos Martinez and Jaime Garcia to be healthy for the duration of 2016, which is a big gamble considering all four starters have dealt with significant injury issues within the past year or two.
Leake, 28, had only hit the disabled list once before he was traded to the San Francisco Giants at the MLB non-waiver deadline in July (then hit the DL after one start with the team).
The right-hander is 64-52 with a 3.88 ERA, 1.27 WHIP and 730 strikeouts in 177 games (172 starts), totaling 1,083 2/3 innings, over six MLB seasons with the Cincinnati Reds and Giants.
