For much of the offseason, a Nolan Arenado trade seemed inevitable. But spring training is now rolling along and he’s still a Cardinal. Today, Katie Woo of The Athletic takes an extensive look at the twists and turns of the winter. Many of the details came out over the past few months but the piece also provides some new tidbits and extra context.

Arenado’s no-trade clause was clearly a key part of the offseason narrative and the club’s efforts to trade him. Reports throughout the winter suggested there was a narrow group of clubs he was willing to join, which Woo confirms in her overview. Arenado told president of baseball operations John Mozeliak that he was willing to waive his no-trade for five clubs: the Yankees, Dodgers, Padres, Red Sox and Astros.

The first three clubs on that list never seemed especially interested. The Yankees were focused on Juan Soto at the start of the offseason. After missing out there, they pivoted to getting Max Fried, Devin Williams, Paul Goldschmidt and Cody Bellinger. The Dodgers have Max Muncy at third and didn’t seem keen on a switch. The Padres have Manny Machado at the hot corner. Arenado was reportedly willing to move to a new position but the Friars have budgetary concerns that made a fit tough regardless.

It’s well known by now that the Astros were interested and seemed to have a deal lined up, but Arenado blocked it. Reporting has suggested that Arenado was open to going to Houston but was a bit concerned by the club trading Kyle Tucker and seemingly moving on from Alex Bregman. Woo’s reporting aligns with that framing, with Arenado wanting some time to think about the possibility of becoming an Astro. She writes that he was aware they might move on while he was taking some time to ponder the idea, which is what happened. They quickly signed Christian Walker to cover first base, which effectively locked Isaac Paredes into the third base spot.

That left the Red Sox as the best landing spot for Arenado, with Boston genuinely interested. However, they bolstered their infield by waiting out Bregman and signing him, taking them out of the running for Arenado.

Woo reports that other clubs checked in about Arenado’s availability, including the Royals, Tigers, Mariners and Angels. Those were all sensible on-paper landing spots. The Royals were looking to add a big bat to the lineup and could bump Maikel Garcia to a utility role. The Tigers were involved in the Bregman market, making him a six-figure offer, clearly indicating a willingness to add an established third baseman ahead of prospect Jace Jung. The infield had been a target for the Mariners this winter, who eventually added Donovan Solano and re-signed Jorge Polanco. The Angels were looking to add at third base with Anthony Rendon no longer reliable, eventually signing Yoán Moncada. However, none of those clubs made progress with the Cardinals, as they were informed that Arenado wasn’t interested in waiving his no-trade protection for them.

All of that led to Mozeliak recently declaring that Arenado would stay a Cardinal, suggesting that he would have to change his team preferences in order for a deal to come together. That doesn’t seem likely to come to pass. Arenado has a two-year-old kid and is apparently only open to uprooting his family under very specific circumstances. It’s long been reported that Arenado is primarily motivated by winning but it appears that his off-field circumstances are also playing a notable role in his decision making. “I don’t see myself changing that list ever,” Arenado said. “I have a family now. … To be willing to pick up my family and move them, it has to be something that’s worth it.”

That’s his right as a player with a no-trade clause, though it leaves the Cardinals in an awkward spot. They are doing a reset, trying to turn the franchise away from upgrading the big league roster to a focus more on player development. It’s unclear how long it will take them to make a full-throated attempt at competing again. For now, Arenado is still on the team, which his contract running through 2027. He’ll be 36 years old in the final year of that pact.

It’s possible a trade could come together at the deadline or in another offseason, but it seems it would have to involve a change at one of Arenado’s preferred destinations. Muncy is in the final guaranteed year of his deal, so perhaps a move to the Dodgers for 2026 is possible, though they could keep Muncy around for ’26 via a $10MM club option. Goldschmidt is only on a one-year deal, so the Yankees might have more interest in an infield addition next winter. Bregman could opt out of his Boston deal, though they have a number of infield prospects likely to be coming up this year. Perhaps the Padres would have interest next winter after Luis Arráez, Dylan Cease and Michael King hit free agency, with Robert Suarez having the change to opt-out as well. A significant injury or two could always change the calculus somewhere.

“If something comes up and it makes sense, I’ll certainly get with him and we’ll talk about it,” Mozeliak said over the weekend. “But it’s not something where I’m getting up every morning and chasing the waiver wire or chasing injuries. I think from our fan perspective, from our team perspective, from our perspective, he is a part of the Cardinals.”

It’s an interesting end to an offseason where Mozeliak regarded an Arenado trade as a top priority. The Cards wanted to reduce payroll and open up some playing time for younger players. They could have dropped the payroll in other ways, such as by trading guys like Ryan Helsley or Erick Fedde, but haven’t shown much interest in doing that in the short term. Perhaps the Cardinals will end up being one of the most interesting clubs to watch when the July deadline rolls around, whether Arenado is likely to move or not.