Cardinals, Franklin Near Agreement On Extension

Friday, 5:20pm: Via MLB.com's Matthew Leach, Franklin confirms that the two sides are close to an agreement that will keep him in St. Louis through 2011. He says:

"We've been talking for a couple months, and it's getting pretty close. Both sides are going to be happy. My whole thing to be happy is to be able to maybe finish my career here. I'm not saying that I'm done after this, if we get this done, but it would be an awesome thing to be able to end my career here in St. Louis. To be close to home, it's a great opportunity for me and my family."

Thursday, 9:34pm: According to Joe Strauss of the St. Louis Post-Dispatch, the Cardinals and closer Ryan Franklin are near agreement on a two-year, $6.5MM contract extension that will keep Franklin with St. Louis through the 2011 season.

"A club source indicated some language had yet to be formalized but conceded that momentum appeared in place for an announcement, perhaps as soon as today," writes Strauss.

The agreement includes the previously negotiated $2.75MM club option in 2010, along with a $3.75MM deal for 2011. According to Strauss, there are also numerous other performance incentives for Franklin, 36, to attain to increase the total worth of the deal.

Franklin was not even the closer at the start of the 2009 season, but he has thrived in the role, with a 1.07 ERA in 50 1/3 innings so far this year.