Dec 15, 2009 8:02 AM EST

The Cardinals have altered their standing offer to free-agent outfielder Matt Holliday.

The St. Louis Dispatch is reporting that the Cardinals are offering Holliday $16 million annually and have sweetened the deal by extending it as many as eight years.

"He's still a player we like very much and hope to retain," general manager John Mozeliak said on Monday night.

Via ESPN