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Cardinals Restructure CB Patrick Peterson’s Contract, Pick Up $2.5M Of Cap Room

Field Yates of ESPN reports that the Cardinals recently restructured the contract of CB Patrick Peterson and in turn freed up $2.5 million of available cap space.

According to Yates, the Cardinals accomplished this by converting $3,172,941 of Peterson’s base salary into a signing bonus.

Peterson, 26, is a former first-round pick of the Cardinals back in 2011. He’s currently in the third year of his seven-year, $83.02 million contract that includes $48 million guaranteed and stands to make base salaries of $9.75 million over the next two years.

In 2016, Peterson has appeared in 11 games for the Cardinals and recorded 34 tackles, two interceptions and four pass defenses.