The trade is pending physicals for both players, who are each coming off surgery.
Rolen, 32, had surgery on his left shoulder while the 31-year-old Glaus’ season ended prematurely because of surgery to ease the pressure on a nerve in his left foot.
The deal, if completed, would represent the second substantive change for the Blue Jays this off-season, following the signing of free-agent shortstop David Eckstein, and give them the same left side of the infield the Cardinals used last season.
Rolen, who has US$36 million and three years left on his contract, was unhappy in St. Louis after feuding with manager Tony La Russa the past two seasons.
When healthy, he’s a dominant offensive player and an outstanding defender but nagging injuries the past few seasons fuelled his problems with La Russa.
Glaus, owed $24 million over the next two seasons, battled plantar fasciitis last season which limited him both at the plate and in the field.
The artificial turf in Toronto only exacerbated the problem and a change in scenery should help ease the toll on his left foot.
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