As first reported by Ken Rosenthal of Fox Sports, the St. Louis Cardinals are finalizing a contract extension with veteran catcher Yadier Molina. While the two parties had a mutual option for 2018 in place, it is rare for such options to be exercised, and thus it was an open question as to whether or not the longtime Cardinals catcher would return to St. Louis. That question has now been answered.

The contract, which is reported to be for three seasons and “more than $55 million”, will keep Molina, one of the most beloved and productive players in franchise history, in St. Louis through 2020. Molina will be 38 at the end of the contract.

Further details on the contract have yet to be released, but rest assured that further analysis of the move will be forthcoming.

UPDATE: Ken Rosenthal has now reported that the contract will be worth “between $55 million and $65 million”, and that Molina will be the highest-paid catcher in baseball as measured by average annual value.