5:26pm: That was quick. ESPN.com’s Jayson Stark has learned that the deal is worth $3.7MM and carries another $100K in incentives.
5:22pm: Derrick Goold of the St. Louis Post-Dispatch reports that the Cardinals have reached agreement with Ryan Ludwick on a one-year deal.
The exact financial terms are not yet available, but Goold believes "that the two sides settled for above the midpoint of the two salaries entered into arbitration." Ludwick filed for $4.25MM and the Cardinals offered $2.8MM back when figures were due.
The Cardinals have now settled with all of their arbitration-eligible players. The club hasn’t required a hearing since 1999.