Flaherty, 27, has struggled with various injuries in recent years, but isn’t too far removed from a solid 2019 season in which he won 11 games and posted a 2.75 ERA after a historically strong second half.
The young right-hander and the Cardinals had found themselves at an impasse in 2021 and a hearing was necessary to determine his salary for that season.
Flaherty ultimately won his case.
This time, he and the Cardinals have reached an agreement.
Robert Murray of FanSided was the first to provide the news, announcing it on Twitter.
Source: Jack Flaherty, Cardinals settle at $5.4 million, avoiding arbitration.
— Robert Murray (@ByRobertMurray) January 13, 2023
The Cardinals former ace is set to enter free agency after the 2023 season.
He will join Miles Mikolas and Jordan Montgomery as one of three starters to go out on the market next offseason.
The Cardinals may look to extend Flaherty this spring as they look to find a way to remedy the fact that four of their current five starters are on expiring contracts, with Steven Matz being the only one under contract for 2024.
The right-hander missed most of 2022, but seemed to return to form upon his return from his fourth stint on the injured list in the last two seasons.
Flaherty went 2-1 and had an ERA of 4.25 in eight starts and nine appearances.
For his career, the right-hander owns a 34-25 record and an ERA of 3.41.
The Cardinals have historically been successful when negotiating contracts during arbitration periods, with Flaherty’s case in 2021 and Michael Wacha’s case in 2017 being the only exceptions.