Yeah its pretty official..
Cardinals nearing agreement with Brad Penny
SportingNews staff reports 1 hour, 11 minutes ago
Free-agent right-hander Brad Penny(notes) is close to signing with the St. Louis Cardinals, according to multiple online reports.
ESPN.com reports Penny and the Cards have a "letter of agreement" for a one-year deal that could be worth as much as $9 million. Penny would receive a $7.5 million base salary, and he could make up to $1.5 million more in incentives, the site reports. Agreement is pending a physical, which Penny will take Wednesday.
Earlier, the St. Louis Post-Dispatch reported that a deal between the Cards and Penny was close.
Penny decided to test the free-agent market after turning down what reportedly was a lesser offer from the San Francisco Giants.
St. Louis is seeking starters for the back of its rotation. Penny likely would fill the No. 4 spot, behind Chris Carpenter(notes), Adam Wainwright(notes) and Joel Pineiro(notes).