Albert Pujols: St. Louis Cardinals Miss Noon Pujols Deadline

The noon deadline has come and gone for the St. Louis Cardinals, who failed to reach an agreement with first baseman Albert Pujols on Wednesday afternoon.

Pujols had set a deadline of 12 p.m. EST for the team to agree on a contract extension before he would refuse to negotiate until after the 2011 baseball season.

Two minutes past the hour, the Cardinals issued a press release announcing that the two sides still had no agreement in place.

"While we are disappointed that we did not reach an agreement, we remain hopeful that Albert will finish his career in St. Louis," said Cardinals chairman William O. DeWitt, Jr. in the release.

"Albert has been playing baseball at the highest level for the Cardinals these past ten years, providing us with countless great memories. We look forward to many more in 2011 and hopefully beyond. We are looking forward to this upcoming season and feel great about the team we have assembled," DeWitt said.

Cardinals general manager John Mozeliak confirmed that a "substantial, long-term offer" had been offered to Pujols, but an agreement is still far from happening. "We have agreed to keep all details confidential out of respect for the process," Mozeliak said.

Pujols has been reported to be seeking a 10-year contract worth approximately $300 million for an average of $30 million per year.

By comparison, Phillies first baseman, and St. Louis native, Ryan Howard has a five-year contract worth $125 million through 2016 with a club option for 2017. Howard will make $20 million in 2012 and 2013 and then $25 million for the next three seasons. New York Yankees first baseman Mark Teixeira signed an eight-year contract worth $180 million in 2009.

Alex Rodriguez, third baseman for the Yankees, is baseball's highest paid player. Rodriguez signed a 10-year contract worth $275 million in 2008.

Pujols, 31, will earn $16 million in the 2011 season, which is a club option on the current contract. A Cardinal since entering the major leagues in 2001, Pujols has won Rookie of the Year (2001), multiple National League Most Valuable Player awards (2005, 2008, 2009), six Silver Sluggers, two Gold Gloves and has been named to the National League All-Star team in all but one season (2002).

Entering the 2011 season, Pujols will look to close in on 2,000 career hits (1,900 entering the year) and has 408 career home runs and 1,230 runs batted in.

"We respect Albert's decision to focus entirely on preparing for the 2011 season," DeWitt said. "We will honor his wishes and not discuss this matter until the completion of the season."

The Cardinals will now have to hope to be able to sign one of the game's top players in free agency, which is always a risky move, especially for a franchise that had a payroll of $94.2 million in 2010. By comparison, the Chicago Cubs had a payroll of $144.3 million, the Philadelphia Phillies totaled $138 million and the New York Mets paid $126 million after dumping nearly $20 million in salary from 2009.

The Cardinals paid a franchise record of $99.6 million in salary in 2008, and last season was only the fourth time the franchise has gone over $90 million in payroll.

If the Cardinals feel that signing Pujols will not be a reality and the power hitter leaves for another club in 2012, then the Cardinals will be in line to receive a pair of compensatory draft picks in next year's amateur draft. Another option for the Cardinals would be to entertain trade offers for Pujols, though there has been no indication to believe that is on the table at this point.

The Cardinals will hold exclusive negotiating rights with Pujols for five days after the World Series this season if time is still needed to reach a deal.