As reported by Katie Woo from The Athletic, the Cardinals are exploring offers for third baseman Nolan Arenado and starting pitcher Sonny Gray, in addition to soon-to-be free agent relievers Ryan Helsley, Phil Maton, and Steven Matz.
Arenado has two years remaining on his $31 million contract, which includes deferred payment clauses; Gray has a salary of $35 million in 2026 and a $30 million team option for 2027 (with a $5 million buyout). Both players have full no-trade clauses, but Arenado submitted a list of five preferred teams (Astros, Dodgers, Padres, Red Sox, Yankees) to the team during the offseason, and a trade to Houston was reportedly vetoed previously.
Utility player Brendan Donovan is also at the negotiation table—while the Cardinals are not actively shopping him, he is listed as a non-fully no-trade asset. The Yankees and Dodgers have shown strong interest, though the Yankees' direction remains unclear after acquiring Ryan McMahon.