This move will run the Cardinals $7.320 million for the 2016 season. However, this figure is guaranteed for injury only and wouldn’t prevent them from working out a long-term deal that would come with a lower cap figure.
Floyd, 25, had one year remaining on his four-year, $9.972 million rookie contract that includes a base salary of $1,749,750 for the 2015 season.
In 2014, Floyd appeared in all 16 games for the Cardinals and caught 47 passes for 841 yards receiving and six touchdowns. Pro Football Focus has him rated as the No. 21 receiver out of 110 qualifying players.