Today marks six years since the signing of the largest contract in Rockies history. On February 26, 2019, Colorado signed Nolan Arenado to a seven-year extension that guaranteed $234MM. It kept the star third baseman from reaching the open market the following offseason. The franchise-record deal also included a full no-trade clause and the right to opt out after the 2021 season.
It looked to cement the defensive stalwart as the face of the franchise for the upcoming decade. Arenado was coming off his fourth consecutive finish among the top 10 in MVP balloting. He’d landed in the top five three years running. Over the preceding four seasons, Arenado was sixth among position players in FanGraphs Wins Above Replacement — trailing Mike Trout, Mookie Betts, Jose Altuve, Kris Bryant and Francisco Lindor. The Rockies had made the playoffs in consecutive seasons and were coming off a 91-win campaign that included a Wild Card game victory over the Cubs.
A relatively small-market franchise extending a player of that caliber one year from free agency was cause for excitement among Colorado fans. That optimism was dashed as the relationship went south incredibly quickly. Arenado had arguably the best season of his career in year one, hitting .315/.379/.583 with 41 homers to earn a sixth-place MVP finish. Yet the team won 20 fewer games than they had in ’18, kicking off an ongoing stretch of at least six straight losing seasons.
By the following offseason, a rift had emerged between Arenado and then-GM Jeff Bridich. Arenado was reportedly displeased with Colorado’s lack of moves to put a competitive roster around him. He was the subject of trade rumors by the 2019-20 offseason. Bridich publicly shot down trade possibilities that winter. Arenado remained in Colorado for the shortened season. It was an underwhelming year for player and team alike that did nothing to improve the relationship.
Two years after signing the extension, the Rockies found themselves attempting to offload as much money as possible owed to their disgruntled star. It wasn’t an easy contract to move. The no-trade gave Arenado the ability to pick his destination. The deal contained six years and $199MM in remaining guarantees with the potential for Arenado to opt out after one season.
The trade Colorado found was a disappointment even in that context. The Cardinals landed Arenado that February for a five-player return led by back-end starter Austin Gomber. He’s a capable fifth starter. None of the other four players — Elehuris Montero, Mateo Gil, Jake Sommers and Tony Locey — remain in the organization. Montero is the only member of that group who even reached the majors and he was a sub-replacement performer.
Colorado kicked in $51MM to facilitate the deal, while Arenado agreed to a restructured contract that deferred part of his 2022-26 salaries while adding a $15MM salary for 2027. Bridich was out as GM three months later. One year after dumping $148MM of the Arenado contract, the Rox signed Bryant to his ill-fated $182MM free agent deal.
The sequence served as a precursor to this winter’s series of trade rumors. Arenado played at a superstar level for his first two seasons in St. Louis, helping the team to consecutive playoff berths. His production over the past two years has been more solid than exceptional. The Cards have missed the playoffs in both and are looking more toward the future than short-term contention. They spent all offseason trying to move Arenado to a contender while moving most of the remaining money. The no-trade clause again allowed him to be particular regarding the teams to which he’d approve a deal.
After he famously nixed a move to the Astros in December, Arenado is expected to play what’ll be his fifth season in St. Louis. He’s into the final two seasons of the deal he’d initially signed with Colorado. He’s due $32MM and $27MM respectively over the next two years, though he agreed to defer $6MM annually to facilitate the trade to St. Louis. The Rockies are still paying down $5MM in each of those seasons. St. Louis is fully responsible for the tacked-on $15MM salary in ’27, which is not deferred.