Cardinals third baseman Nolan Arenado is remaining in St. Louis as he won't opt out of his contract, a source confirmed to ESPN on Saturday.

Arenado, 31, has five years and $144 million left on his deal, a nine-year, $275 million contract he signed in 2019 with the Colorado Rockies. Arenado was traded to the Cardinals before the 2021 season after spending eight years with the Rockies, and Colorado is paying $31 million of the deal. Arenado is set to make a base salary of $35 million next season on the contract that runs through the 2027 season.

The contract contained two opt-outs, with the second one coming after the 2022 season. Arenado has informed the Cardinals he won't use the opt-out to become a free agent, which was first reported by The Athletic.

Arenado hit .293 with 30 home runs, 42 doubles and a .891 OPS this season. He is likely to finish in the top five in National League MVP voting along with teammate Paul Goldschmidt, who is signed through 2024.

A 10-year veteran, Arenado has indicated often how much he likes playing in St. Louis, making it no surprise he decided to stay.