Report: Carson Palmer has restructured contract with Arizona Cardinals
Mar 7, 2015, 12:54 AM | Updated: 3:32 pm
Thursday, Arizona Cardinals quarterback Carson Palmer made some news when he said he had restructured his contract with the team. Later, it was learned that while he had agreed to do so, nothing had officially been done.
The veteran admitted to being a little confused by it all in an interview with Doug and Wolf on Arizona Sports 98.7 FM Friday morning, saying he thought it was officially done but instead the re-done deal was just something everyone was waiting on.
Well, it looks like the contract has finally, officially, been restructured.
#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
Palmer's cap number was lowered to $7.375 million, giving #AZCardinals about $21.1 million in cap space as of Fri p.m., per @ESPNStatsInfo.
— Josh Weinfuss (@joshweinfuss) March 7, 2015
Palmer is the second known Cardinal to restructure his deal this offseason, joining receiver Larry Fitzgerald. The goal has been to give the team as much salary cap space as possible with which to pursue free agents.
The NFL’s free agency period officially starts Saturday, as teams will be allowed to begin chatting. Unrestricted free agents will be permitted to sign with new teams starting Tuesday.
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