3:53pm: The deal guarantees Cedeno $1.15MM and includes $850K in performance bonuses, Rosenthal reports (on Twitter).
2:55pm: The Cardinals have agreed to sign Ronny Cedeno to a one-year, Major League contract, Ken Rosenthal of FOX Sports reports (on Twitter).
Cedeno played for the Mets last year, appearing in 78 games, mostly as a middle infielder. The 29-year-old posted a .259/.332/.410 batting line in 186 plate appearances with New York. He earned $1.2MM, and has earned between $1-2MM in each of the last three seasons. Multiple teams expressed interest in Cedeno, but the identity of other interested teams remains unknown.
Rafael Furcal projects as St. Louis' starting shortstop, but he could miss the start of the season due to an elbow injury. Pete Kozma provides St. Louis with an internal alternative at the position.
Jon Heyman of CBSSports.com first reported the Cardinals' interest and that the sides were nearing a deal.