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Report: Cardinals, Patrick Peterson close to extension

Patrick Peterson

Patrick Peterson

AP

Cardinals cornerback Patrick Peterson has gone a few rounds with Seahawks cornerback Richard Sherman this offseason about which of them is the best cornerback in the NFL and Peterson may soon have a new contract to use as further ammunition for his case.

Rand Getlin of Yahoo Sports reports that the Cardinals and Peterson are close to an agreement on a contract extension that would keep Peterson in Arizona for the near future. Per Getlin, there are still some hurdles to cross but there’s a “good chance” something gets done shortly.

It’s unclear if one of the hurdles is structuring the deal so that it puts him above Sherman and Browns cornerback Joe Haden in the league’s pecking order. Sherman signed a four-year deal this year that includes $40 million in guaranteed money while Haden signed his name on a five-year deal that has $45 million in guarantees, although some of those guarantees are against injury only.

Peterson is entering the fourth year of his rookie deal, which is set to pay him more than $2.8 million, and the Cardinals exercised their fifth-year option on the 2011 first-round pick’s pact earlier this offseason.