Cardinals Waive Former First-Round WR Michael Floyd

Update:

Cardinals owner Michael Bidwill tells Ian Rapoport that the decision to release of WR Michael Floyd on Wednesday was difficult, but they’re moving on.

“There were a lot of factors, but it was a difficult decision for sure,” Bidwill said. “And when you look at standards and expectations, the message is there. We have standards and expectations. Again it was a difficult decision, but we’re moving on.

“There were a lot of factors to it and I think it was just time for us to move forward. Deeply disappointed it didn’t work out. He was a 2012 first-round draft choice for us, a person we thought would eventually take Larry Fitzgerald’s position and be the No. 1 receiver for the future. Deeply disappointing that we moved on and he didn’t work out as a person we had a lot of faith in.”

Bidwill made it clear that this was a consensus decision made by the team.

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The Arizona Cardinals announced Wednesday that they’ve waived WR Michael Floyd following his recent arrest.

• It’s worth mentioning that Floyd is subject to waivers. Should a team place a waiver claim for him tomorrow, Joel Corry points out that it would cost them $1,291,765 for the final three weeks of the season.
• Corry also mentions that Floyd’s $7.32 million option year salary is fully guaranteed, which means he’ll receive the balance from the Cardinals, even if isn’t claimed off of waivers.
• According to Jason La Canfora, Floyd is currently without an agent, so that could impact him signing with a team should he clear waivers.

Floyd was arrested early Monday morning on DUI charges after allegedly falling asleep at the wheel. The Scottsdale Police Department mentioned that Floyd was found unconscious at the wheel of his car at 2:48 a.m. Monday morning with the car still running.

Floyd was charged with two counts of DUI and one count of obstructing a roadway and failure to obey a police officer. He was released later Monday morning.

Floyd, 27, is a former first-round pick of the Cardinals back in 2012. He played his four-year, $9.972 million contract before the Cardinals elected to pick up his fifth-year option last year.

Floyd was in line to be an unrestricted free agent after this season.

In 2016, Floyd has appeared in 13 games and caught 33 passes for 446 yards receiving and four touchdowns for the Cardinals. Pro Football Focus has him rated as the No. 94 receiver out of 115 qualifying players.