Longtime manager Tony La Russa will join Major League Baseball as a special advisor, ESPN.com's Buster Olney reports (Twitter link). La Russa's deal, which has yet to be announced, will pay him approximately $2.5MM annually.

La Russa announced his retirement soon after leading the Cardinals to the 2011 World Series championship. The former White Sox, Athletics and Cardinals skipper ranks third all-time in wins as a manager. There were rumblings that the 67-year-old might replace Joe Torre, another former player and manager, as MLB's executive VP for baseball operations. Torre ultimately rejoined MLB after pursuing ownership of the Dodgers.