March 8 (UPI) -- The St. Louis Cardinals renewed the contract of starting pitcher Jack Flaherty for the 2020 season, the team announced Sunday.
League sources told the St. Louis Post-Dispatch that Flaherty will earn $604,500 this season on the renewed deal. The Cardinals didn't disclose financial terms of the agreement.
Per team policy, a player's salary is reduced by $10,000 if the club has to renew a contract. The Cardinals gave Flaherty a $10,000 bonus for finishing fourth in last year's National League Cy Young Award voting to offset the penalty, according to the newspaper.
It marks the second consecutive season the Cardinals have renewed Flaherty's contract. The 24-year-old ace earned $562,100 last season.
Flaherty, who was selected by the Cardinals in the first round of the 2014 MLB Draft, posted an 11-8 record and 2.75 ERA in 33 starts last season.
The Cardinals also announced Sunday that the team signed 24 players not yet eligible for salary arbitration to one-year contracts.