Update 9:04 PM EST: Matheny receives a 2-year deal with a club option for 2014, reports Joe Strauss of the Post-Dispatch.
Matheny, a former MLB catcher who also played with the Cardinals, has no managing experience in the majors or minors, or even any coaching anywhere. He was a spring training adviser for some time, however.
There was some speculation that this would be the move starting yesterday, and reportedly it came down to both Matheny and former Boston Red Sox manager Terry Francona.
Matheny played in the majors from 1994 until 2006 and is just 41 years old. Known most for his great defensive ability and four gold gloves, he spent his career with the Cardinals, Milwaukee Brewers, Toronto Blue Jays and San Francisco Giants. He had a career batting average of .239 and had 443 runs batted in.
Matheny suffered from severe post concussion syndrome in 2006 due to several foul balls off his mask, and his career was cut short. This will be his first stint in coaching.