League sources told ESPN and the New York Post on Wednesday that Wacha will receive $3 million guaranteed from the Mets and could earn an additional $7 million in performance bonuses and incentives. The deal is pending a physical.
"We stated as we showed up [at the winter meetings] that starting pitching depth was a priority for us," Mets general manager Brodie Van Wagenen said. "We like Michael Wacha a lot. ... He fits the category of depth starting pitching that we think has high upside.
"He's got championship makeup. This is a guy that has pitched in postseason games. This is a guy that has been in an All-Star Game. There are a lot of other pitchers out there that we have to keep our eye on, too, but Michael Wacha fits a lot of categories that we were seeking."
Wacha had spent his entire seven-year MLB career with the Cardinals. The right-handed pitcher posted a 6-7 record and 4.76 ERA in 29 games (24 starts) last season.
Wacha has battled injuries in recent seasons, missing a majority of the 2018 campaign because of a left oblique strain. In 2019, he didn't record a win after July 19 as he dealt with a strained right shoulder and elbow inflammation toward the end of the season.
The veteran pitcher will replace Zack Wheeler, who agreed to a five-year, $118 million contract with the Philadelphia Phillies on Dec. 4. The Mets' rotation already consists of two-time Cy Young Award winner Jacob deGrom, Noah Syndergaard, Marcus Stroman and Steven Matz.
Wacha has a 59-39 record and 3.91 ERA in his career. He was MVP of the 2013 NLCS as a rookie.