New Cardinals third baseman Nolan Arenado will head to Arizona in a trade. (Getty Images)

The Arizona Diamondbacks are set to acquire veteran third baseman Nolan Arenado from the St. Louis Cardinals on Tuesday, according to Steve Gilbert of MLB.com.

In return, St. Louis will receive 22-year-old right-handed pitcher Jack Martinez, an eighth-round pick in the 2025 MLB Draft out of Arizona State. The Cardinals will also send $31 million to Arizona to help offset Arenado’s contract, per MLB.com’s Mark Feinsand. St. Louis will remain responsible for the $6 million in deferred money owed to Arenado, which is not payable until 2040–41, according to Feinsand.

To facilitate the deal, Arenado waived his no-trade clause, allowing the 10-time Gold Glove winner to continue the next phase of his career in Arizona.

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The eight-time All-Star is expected to serve as the Diamondbacks’ primary third baseman, replacing Blaze Alexander, who filled in at the hot corner after Arizona traded Eugenio Suárez to the Mariners at last year’s trade deadline.

Arenado endured a down season with the Cardinals last year, hitting .237/.289/.377 with 12 home runs and 52 RBIs in 107 games.

“We are grateful for Nolan’s five years as a Cardinal, on and off the field — for his drive, his competitiveness, and for all of the memories he gave us,” Cardinals president of baseball operations Chaim Bloom said in a statement.

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Arenado becomes the third impact player moved by the Cardinals this offseason.

St. Louis previously traded right-handed pitcher Sonny Gray and first baseman Willson Contreras to the Red Sox in separate deals. In total, the Cardinals have sent out $59 million to facilitate the three moves as Bloom continues reshaping the roster.

The Hot Stove has picked up momentum in recent days following Alex Bregman’s five-year, $175 million deal with the Cubs. Arizona now lands Arenado, who was a Red Sox target last offseason before Boston pivoted to Bregman. Arenado owns a career slash line of .282/.338/.507 with 353 home runs and 1,184 RBIs.

St. Louis originally acquired Arenado ahead of the 2021 season, just two years after he signed his long-term deal with the Rockies, who drafted him out of high school in the second round of the 2009 MLB Draft.

The Cardinals may not be finished dealing. Infielder Brendan Donovan could be the next player moved, with the Giants reportedly interested in adding the sure-handed second baseman. With Arenado now in Arizona, St. Louis could clear a path for top prospect JJ Wetherholt to see time in the infield next season.

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Martinez projects as a potential back-end starter, though his long-term outlook hinges on improved command. The 6-foot-4, 215-pound right-hander features a 93–95 mph fastball that has touched 97, but control has been an ongoing concern. He has shown better feel for a low-80s slider and a 78–82 mph changeup.

Martinez began his college career at the Division III level before transferring twice and finishing as a starter in Arizona State’s rotation. He posted a 5.47 ERA across 15 starts during his senior season, but struck out 32.3% of opposing hitters, according to MLB.com’s scouting report.

For the Cardinals’ reshaped player development department, Martinez represents a pure lottery ticket, with upside to land in their rotation.