Martinez agreed to a five-year, $51 million extension with the Cardinals on Wednesday, Jon Heyman of FanRag Sports reports.
Sources have reportedly confirmed the deal, but the Cardinals are waiting to announce the extension until Thursday. Martinez has been great for the Cardinals over the past two seasons, going 30-16 with a 3.02 ERA across 375 innings and earning an All-Star selection in 2015. He is set to compete for the top starting job for St. Louis in 2017.