Kent Somers reports that the Cardinals have officially restructure QB Carson Palmer‘s contract and will free up $7.1 million in cap space in the process.
- According to Somers, the Cardinals converted Palmer’s $9.5 roster bonus into a signing bonus.
- The problem, however, is that this move will create cap figures of $19 million (2016) and $22.6 million (2017).
- Somers adds that the Cardinals paid Palmer his $9.5 million roster bonus on Thursday.
Palmer, himself, confirmed that he had agreed to rework his contract to help the Cardinals cap situation before the start of free agency, so this is really more of a confirmation.
Palmer, 35, signed a four-year, $58.5 million contract that included $14.235 million guaranteed with the Cardinals back in November of last year, which was just days before he sustained a season-ending ACL injury.
He has base salaries of $1 million (2015), $6.35 million (2016), and $8.15 million (2017) coming his way over the next three years. However, the deal also includes sizable roster bonuses as well.
In 2014, Palmer threw for 1,626 yards while completing 62.9 percent of his passes to go along with 11 touchdowns and just three interceptions.
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