On Friday afternoon, Mike Florio reported that the Cardinals and quarterback Carson Palmer could agree to a contract extension soon.
Soon didn’t take long. The Cardinals announced a bit later on Friday afternoon that they have signed Palmer to a three-year extension through the 2017 season. .
Jason LaCanfora of CBS Sports reports the payout is $50 million, although there aren’t any details about how the deal is structured in terms of guaranteed money and injury protection at this point. Palmer could have become a free agent after the season, which was apparently something the Cardinals didn’t want to risk.
Palmer’s season was interrupted by an injured nerve in his right shoulder, but he’s played well since being back in the lineup and has posted his best numbers since his early days in Cincinnati. Palmer’s first year in Arizona got off to a rocky start, but he’s thrown 25 touchdowns and 10 interceptions while the Cardinals have gone 11-2 in his starts since the midpoint of the 2013 season.
With Palmer off the market, Browns quarterback Brian Hoyer stands as the most attractive of the potential free agent quarterbacks. His record as a starter over the last two years is almost as good as Palmer’s, which will make for some interesting decisions in Cleveland if things keep going well for him over the remainder of the season.