Via Derrick Goold (hat-tip to Chad Jennings):
The wait might have been worth it for the Cardinals, as the club and free-agent outfielder Matt Holliday are working toward an agreement that multiple sources described as gaining momentum and potentially is the largest ever offered by the franchise.The article also says that Holliday’s representatives and Cardinals GM John Mozeliak have confirmed that there have been ongoing talks.
... Sources with knowledge of the negotiations said progress is "strong" and a resolution could come as early as next week.
Goold later mentions that Boras had been looking for an 8-year deal worth around $18 million per. The Cardinals offer, Goold said "Sources indicated the sides have discussed several structures, including a five-year guaranteed deal and an eight-year framework. The average annual salary would be higher in the shorter deal. The longer deal’s total worth, however, would surpass the largest contract ever finalized by the Cardinals — the $100-million extension signed by Albert Pujols in 2004."