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Carson Palmer restructures contract

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As the Raiders continue to chop away at a cap surplus as high as $25 million, they’ve taken another chunk out of their excess.

The team has announced that quarterback Carson Palmer restructured his contract.

NFLPA records do not yet reveal any reduction in Palmer’s base salary of $12.5 million.  Since Palmer’s contract runs through 2014, he could create as much as $7.71 million in cap space by dropping his salary to the 10-year league minimum of $925,000 and converting the rest into a signing bonus.

The difference ($11.575 million) would be spread equally over the next three seasons, with $3.85 million applying this year, next year, and in 2014.

It’s also possible that Palmer simply took less money.  If it was a “simple” restructuring, with Palmer pocketing $11.575 million now, it’s likely that the Raiders will remain committed to him for at least the next two seasons.

The Raiders also announced that defensive lineman Richard Seymour and safety Michael Huff restructured their contract.

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61 Responses to “Carson Palmer restructures contract”
  1. dondiraider says: Mar 8, 2012 9:48 PM

    Another Team Player!!!!

  2. dondiraider says: Mar 8, 2012 9:48 PM

    Wimbley & Curry up next!

  3. jeremywflores says: Mar 8, 2012 9:50 PM

    McKenzie is doing a pretty decent job of cleaning up Al/Hue’s mistakes.

  4. 34bo34 says: Mar 8, 2012 9:51 PM

    Sounds like the team is buying in to this new management. We have had great players but just havent been able to pull it all together. I hope Allen can step up our defense like he did with those scrubs on the donkeys……

  5. johanneschimpo says: Mar 8, 2012 9:53 PM

    It worked for Eli Manning, right?

  6. p4hbiz says: Mar 8, 2012 9:54 PM

    One contract at a time. Wimbley your next!

  7. trbowman says: Mar 8, 2012 9:57 PM

    Palmer is underrated.

  8. chiefterry says: Mar 8, 2012 10:00 PM

    Is this move to bring back their best QB, Jason Cambell? Wow Carson has the Faiders by the balls!!! Lol

  9. alyopal69 says: Mar 8, 2012 10:00 PM

    This is a great sign that THE OAKTOWN RAIDERS have a good nucleus of players that want to be here and are willing do all things that are neccessary to build a winning team.

  10. jimmysee says: Mar 8, 2012 10:07 PM

    Green Bay west — that’s a compliment!

  11. gr8whte says: Mar 8, 2012 10:10 PM

    80 mill in the bank showin some love for the game and allowing his team to have some flexibility in signing free agents

  12. waitingguilty says: Mar 8, 2012 10:12 PM

    In an odd twist, the Raiders used the new cap room to tender an offer to Peyton Manning.

    Plamer responded: “That’s disappointing.”

  13. thcnote says: Mar 8, 2012 10:13 PM

    Raiders suck and always will. Who cares.

  14. raiderapologist says: Mar 8, 2012 10:14 PM

    chiefterry says: Mar 8, 2012 10:00 PM

    Is this move to bring back their best QB, Jason Cambell? Wow Carson has the Faiders by the balls!!! Lol

    Keep saying that to yourself while you pray for the Queefs to land Manning or even Campbell. They are both better than that scrub you have.

  15. asw1028 says: Mar 8, 2012 10:17 PM

    The Raiders draft (well, in reality it’s just the leftover scraps from Hue Jackson’s chainsaw massacre last season) will say a lot about McKenzie’s plans for their future. I’d like to see them get at least one offensive lineman and a TE who can block and catch (David Paulson from Oregon would be a really good fit for their system, IMO).

  16. shaggytoodle says: Mar 8, 2012 10:21 PM

    Boy is he going to be upset when they use that money to get Peyton Mannning. I know it sounds crazy, but so did giving this years draft class away for Palmer.

  17. zamco17 says: Mar 8, 2012 10:21 PM

    Committed to Palmer for 2 years? Scary

  18. nyyjetsknicks says: Mar 8, 2012 10:23 PM

    Still overpaid…

  19. kckingb says: Mar 8, 2012 10:24 PM

    anyone saying the raiders draft well are obviously, slower than most, and were a lot of black and silver

  20. azjahwkr says: Mar 8, 2012 10:30 PM

    WORST trade in the history of the NFL

  21. phadedwun says: Mar 8, 2012 10:31 PM

    Palmer was underrated in his performance last year and I have no doubt he will have a better year this year. Quarterback is the hardest position to pick up partway through the season for a new team.

    It’s nice to see Palmer, Seymour & Huff willing to restructure their contracts and put the team first.

  22. fasteddy415 says: Mar 8, 2012 10:31 PM

    All it means is that the salary cap increases the following years…these types of contracts cripple a team for consecutive years…so now who is left and how much cap room will there be for the draft n free agents?? Not much at all..good luck…

  23. dondiraider says: Mar 8, 2012 10:33 PM

    definitely underrated QB, but 2012 will show them all..we jus got to be patient.

  24. smartbutlazy says: Mar 8, 2012 10:36 PM

    The raiders still suck. Palmer still sucks. I wonder if Cincinnati would restructure their trade compensation. Haha!! Cinci was better without that tool than they ever were with him.

  25. Stupid Raiders Fan says: Mar 8, 2012 10:38 PM

    Heck yes to keeping huff

  26. stilllovemybungles says: Mar 8, 2012 10:39 PM

    He would play for free if they charged him 5ook for every interception he’ll throw over the next 2 years!

  27. bclower says: Mar 8, 2012 10:40 PM

    Yeah cause the Raiders have done such a good job in the draft in the past to bring in a top notch QB, J.Russel that they are a sure bet for P.Manning cause he is willing to go to such a winning team…….. Go Steelers, thanks for making us look great in the draft losers!!!!!!!

  28. mullman7675 says: Mar 8, 2012 10:41 PM

    Hey kckingb- I think you mean “wear” a lot of black and silver, not were”.
    Also, the Raiders have drafted well the past few seasons- Wiz, Jacoby Ford, D. Moore on offense L. Houston, M. Shaughnessy on defense. Al whiffed on a few but he hit on way more then he gets credit for.

  29. snarf1888 says: Mar 8, 2012 10:52 PM

    so if a player approaches managent a couple years after signing a contract and asks for more money he gets told to beat it and labeled selfish and “not a team player”, however management can approach a player a couple years after signing a deal and ask him to take less money and if he says no then he’s still selfish and “not a team player”. if i was all these raiders i would tell management to go f#@k themselves. then i would go be a “team player” for another, better team

  30. someidiotfromouthereintheprojects says: Mar 8, 2012 11:03 PM

    that guy is way overpaid. after his pay reduction, he still makes more than cam newton.

    it’s amazing it took this long to get a rookie wage scale.

  31. tfbuckfutter says: Mar 8, 2012 11:05 PM

    Little known fact: Carson Palmer was the fastest QB at the 2003 Combine.

    That’s not actually true, but it’d be interesting huh?

    Also….can we reflect for a moment on the fact that the Bears spent a first round pick on Rex Grossman in that draft?

    What an awful awful draft for QBs.

    Also interesting….how were Willis McGahee and Larry Johnson in the same draft? It seems like Larry Johnson is so old I only know him because my grandfather used to tell me stories about his short burst of excellence.

  32. rastaraider says: Mar 8, 2012 11:07 PM

    Good move !!

  33. tropboi11 says: Mar 8, 2012 11:07 PM

    Raiders fans say goodbye to Wimbley, he is coming down south to the Bucs along with V-Jax and Finnegan

  34. huejackson says: Mar 8, 2012 11:09 PM

    Palmer knows that the Raiders are on the rise.. Raiders will win 13 games this year, Wimbley is getting released he is not a good teamate

  35. tomsd1 says: Mar 8, 2012 11:10 PM

    Thanks for the update Mike. Love reading these.

    From an ole Raider fan from the 70′s, when they rocked. :)

  36. tdk24 says: Mar 8, 2012 11:14 PM

    How are they Packers West? Ron Wolf and McKenzie were Raiders before they were Packers. Packers are actually Raiders Midwest!

  37. whatwouldaldavisdo says: Mar 8, 2012 11:17 PM

    jeremywflores says: Mar 8, 2012 9:50 PM

    McKenzie is doing a pretty decent job of cleaning up Al/Hue’s mistakes.

    xxxxxxxxxxxxxxxxxxxxxxxxx

    What, are you new to the Raiders operations? They did this all the time.

  38. whatwouldaldavisdo says: Mar 8, 2012 11:21 PM

    jimmysee says: Mar 8, 2012 10:07 PM

    Green Bay west — that’s a compliment!

    xxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    No, that’s a stupid (and biased) remark.

    Have you ever heard of Ron Wolf? Was in the Raiders organization for 24 years. Now, he is with the Packers front office.

    So, more its more like Raiders east.

  39. whatwouldaldavisdo says: Mar 8, 2012 11:29 PM

    So,
    2012-3.8 mil
    2013-3.8 mil
    2014-3.8 mil

    for Carson Palmer who is rated as number 10 QB in the league and provides continuation. Money well spent.
    Considering Drew Brees, who arguably could be the best QB in the league is a lock to make 11 mil + the next three seasons, 3.8 mil is right on par for the #10 QB.

    Print that.

  40. whatwouldaldavisdo says: Mar 8, 2012 11:34 PM

    Palmer knows that the Raiders are on the rise.. Raiders will win 13 games this year, Wimbley is getting released he is not a good teamate

    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    Let’s see the end result before we call Wimbley a bad teammate. Unless you have inside information, you only know what the media had portrayed.

    He has stated he is willing to restructure, but not a pay cut. He is looking for a spread and he has the leverage, unless the market for him in FA is not that strong. Posturing at its finest.

  41. whatwouldaldavisdo says: Mar 8, 2012 11:48 PM

    The offense will be OK once the contracts are adjusted as usual.

    Let’s be real, the Raiders defense is the problem. Raiders need one impact player at DL, LB, and S.

    We need to stop:
    -asking Branch to cover on more than two downs
    -asking Wimbley to cover skill position players
    -asking Huff to play FS
    -playing Boyd (sucks)
    -playing Shephard (too small for AFC West WR’s)

    Comp picks will have Raiders picking in third round on so FA’s must be reviewed for help at the 3 defensive levels.

  42. 7pints says: Mar 8, 2012 11:51 PM

    Oh huejackson… How I have missed your comedic comments. 13 wins next year… Oh man, you kill me bro. Good one.

  43. Stiller43 says: Mar 8, 2012 11:52 PM

    Why are all you people saying theyre “team players” by restructuring their contracts?!

    Theyre essentially receiving their full 2012 pay now (all except the amount of the vet min of their experience which theyll still receive as game checks).

    Theyre NOT taking a pay cut. If your employer said “hey, we wanna pay you your full salary for 2012 by december 31st, 2011 so we can count it in this years finances (managing the cap),” im pretty sure everybody would say absolutely!

    Quit calling them team players…yes they dont have to do it, but it wouldnt make sense for them not to.

  44. kcfanatic says: Mar 8, 2012 11:54 PM

    Even though I am a Chiefs I like this move by Carson. It shows that if he is not with a cheap team like Cincy, he has the ability to be a team player. I also like this move for the Raiders(as much as I can like anything for the Raiders). You have a high end QB. Keep him there. Good luck next year Raiders. I am hoping you take 2nd in the division right behind us, get a wild card spot and we embarrass you in the playoffs(Sorry, that was as nice as a Chiefs fan can be to a Raider).

  45. whatwouldaldavisdo says: Mar 8, 2012 11:58 PM

    chiefterry says: Mar 8, 2012 10:00 PM

    Is this move to bring back their best QB, Jason Cambell? Wow Carson has the Faiders by the balls!!! Lol

    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    Ha ha, lets talk abut Fading then, Terry. Aren’t the Chiefs the team that recently fell upward into the playoffs but in Week 17 had Oakland come to Arrowhead and spank them all over their field. The announcer on TV stated “Cassell is running around scared for his life, it seems.”
    The Queefs were so hammered the Ravens clowned them with ease the very next week and KC faded into an afterthought.

  46. whatwouldaldavisdo says: Mar 9, 2012 12:02 AM

    By the way Raider fans, Carson is confirmed to already be working out with USC cats in SoCal this week. He should be in decent shape come OTA time.

  47. chargerzz says: Mar 9, 2012 12:13 AM

    Who cares about raiders

  48. racerx1225 says: Mar 9, 2012 12:15 AM

    No sh-t and they got Woodson from us too. Packers are were more like Raiders than Raiders like Packers. name on player or coach we’ve had form them over the years. Exactly :)

  49. racerx1225 says: Mar 9, 2012 12:15 AM

    THC dummy,
    we get 2 or 3 compensatory picks Einstein.

  50. sirdrinksalot says: Mar 9, 2012 12:33 AM

    Doesn’t matter. The Raidahs still won’t have enough money to keep Kamerion Wimbley and as soon as he’s cut the Bills will be on his heels.

  51. nflofficeadmin says: Mar 9, 2012 12:35 AM

    Let’s be clear – restructuring a contract doesn’t have to mean ANYONE is being a team player. In most cases it means the player is getting most of the payment for the year upfront as a bonus rather than a salary that comes in installments. So, both sides are only doing it for their own benefit – no charity to applaud here.

    Frankly, I don’t want any players that have to restructure contracts to lower amounts, it means they haven’t been performing as well as they are getting paid to do. Go Raiders!!

  52. jerseyshoregiant says: Mar 9, 2012 12:41 AM

    Everybody knows Palmer isn’t even worth the 10 year league minimum.

  53. maddenisfordorks says: Mar 9, 2012 1:23 AM

    Man I can’t remember any Raider games.

    That’s not good.

  54. nopepper123 says: Mar 9, 2012 1:38 AM

    Seriously, how naive can Raider fans be?? You think that this over the hill noodle armed qb will help you? You think he’s getting better with age? You think he’s mysteriously going to forget how to throw interceptions? The number on his jersey represents the remaining years left of torture you will have to endur if you continue to pay this guy through his contract.
    To Raider fans everywhere……..”Committment to Mediocrity”.

  55. poprox13 says: Mar 9, 2012 3:05 AM

    @chiefterry

    Campbell a better QB? You cant seriously think that? smh……

  56. mikgaes says: Mar 9, 2012 6:26 AM

    Pallmer is over-rated. Very, very over-rated.

  57. bigal1952 says: Mar 9, 2012 6:26 AM

    I’ll give kudos to McKenzie and company for cherry-picking which of these over-paid players to retain in an effort to be competitive this year. Evidently Huff, Seymour, and Palmer made the grade, and so will Curry. Routt and probably Wimbley did not. But re-structuring does not involve ANY sacrifice by the player. They get the same amount of $’s, all they do is agree to get it NOW, in the form of a bonus. So the praise for these guys being team players is misplaced. Show me a guy who doesn’t have to take a pay cut and actually takes one and I’ll change my tune.

  58. buckarama says: Mar 9, 2012 7:23 AM

    If you’ve been a Raiders fan for the last decade – you realize that CP is the best thing under center since Gannon. Now it seems he has a ton of class also to help the team out. Hue paid a lot but it’s still filed under the “hope” category and this could work out for us!

    Way to go Reggie and Co.! Keep up the good work!

  59. pskotte says: Mar 9, 2012 7:59 AM

    When he was with Cincy Palmer signed a contract extension and pocketed $25M guaranteed. Two years later he decided he no longer wanted to play for them. Personally I wouldn’t commit to him for three years and depend on a proven quitter.

  60. chadinkc30 says: Mar 9, 2012 1:26 PM

    The noodle arm is Cincys new qb

  61. georgebrett says: Mar 9, 2012 2:50 PM

    jeremywflores

    Please explain how these were mistakes on Al’s part?

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