The two-time NFL MVP agreed to stay in Arizona for another two years for $25 million with $19 million guaranteed ($15 million signing bonus), ESPN reports.
Warner's agent Mark Bartelstein was asked to make a counteroffer from the San Francisco 49ers who had flown him and his wife Brenda to their facility for a physical but Warner has decided to stay with the Cardinals.
Warner, 37, was the catalyst of a phenomenal passing attack that led the Cardinals to their first ever Super Bowl. In their loss to the Pittsburgh Steelers, Warner completed 31 of 47 passes (one off of Tom Brady's game record) for 371 yards and three touchdowns.
In four playoff games, Warner completed 68 percent of his passes for 1,147 yards and 11 touchdowns, with three interceptions. That after he completed 67 percent of his throws in the regular season for 4,583 yards and 30 touchdowns, with 14 interceptions.
Warner's signing now puts the future of QB Matt Leinart in serious jeopardy.
Leinart was the tenth overall pick of the 2006 draft in a class with Vince Young and Jay Cutler. Since Warner has come to Arizona, Leinart has seen his playing time almost disappear and it some say he could be trade bait.