Carson Palmer Restructures Contract
The Arizona Cardinals continued their cost-efficient ways on Friday when it was announced that quarterback Carson Palmer has restructured his contract.
#AZCardinals QB Carson Palmer restructured his contract by converting $9.5 million roster bonus to signing bonus, per @ESPNStatsInfo.
— Josh Weinfuss (@joshweinfuss) March 7, 2015
The news of this has been rumored for the last several days, but it became official today. Palmer’s $9.5 million bonus will be spread over three seasons. It helps this team right now, but could create some financial issues down the road.
Palmer signed his latest contract last November, just a few days before he tore his ACL in a game against the St. Louis Rams. The veteran quarterback is said to be ahead of schedule in his rehab and is aiming to be 100 percent come training camp.
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In 2015, the Cardinals will go as far as Palmer can take them. When he was healthy, Arizona was a legitimate Super Bowl threat, but as soon as he went down, the Cardinals season was all but over.
With Palmer’s cap number lowered to $7.4 million for the upcoming season, the Cardinals now have a little more than $21 million in cap space. Teams can begin negotiating with free agents as soon as Saturday and can come to agreements with them on March 10.
These next couple of days are going to be fun if you are a fan of this football team.
Just a few weeks ago, it didn’t look like the Cardinals were going to have any extra cash to spend, but with Larry Fitzgerald’s new deal, Darnell Dockett and Ted Ginn both being cut and now this news, Steve Keim and company will have dough to improve this football team.
Stay with us as we cover all of the free agent news surrounding the Cardinals over the coming days and weeks ahead.