It’s become a bit of a trend for QB’s to restructure their contracts when they realize it’s suffocating the team’s progress. This has been the case with the likes of Drew Brees, Tom Brady, and more recently Peyton Manning, among others. Today it became official that Carson Palmer would do the same, ultimately saving the Cardinals $7.1 Million in cap space this year. Per SI,
The restructuring converts a $9.5 million roster bonus that was due on Thursday into a signing bonus, prorating it and saving $7.1 million in cap space next season for the Cardinals.
So, great news, right? More great news Cardinal’s fans, Bruce Arians recently said that the QB is three to four weeks ahead of schedule in recovery from surgery on his left knee. Arizona was among the best teams in football last year before Palmer went down, so all signs are pointing to the Cardinals making this year, their year. One more sign of that:
Downside of Palmer restructure: '16 cap number of $19m, $22.6 in '17, per http://t.co/2HONug4fxC. will have to be addressed.
— Kent Somers (@kentsomers) March 13, 2015
That’s unfortunate. But who knows, it could be worth it for this year alone. Plus, who’s to say Palmer can’t do the same thing next offseason and circumvent the cap hit. The salary cap is weird and I won’t pretend to understand all of it. But there are a lot of smart people who do, though, and they know how to work it.
As for who the Cardinals use this newly found cap space on, keep it locked here. We’ll have the updates.