Masterson, 29, is in the final year of his contract. In 19 starts this season he is 4-6 with a 5.51 ERA. He was an All-Star in 2013.
Ramsey was ranked as the Cardinals' eighth-best prospect after the 2013 season by Baseball America. He was a first-round pick in 2012. He batted .300 in 67 games this season for Double A Springfield. Upon acquiring him, the Indians announced they would assign Ramsey to Triple-A Columbus.
The MLB non-waiver trade deadline is Thursday.
- Dan Gartland