ESPN's Adam Schefter reported on Monday that Palmer is "highly unlikely" to restructure his current exorbitant deal:
Interesting: now "highly unlikely" Carson Palmer will be willing to restructure his contract meaning OAK pays him $13 million or cuts him.— Adam Schefter (@AdamSchefter) March 25, 2013
As Schefter reports, Palmer's base salary in 2013 is set to be $13 million. Should the team decide to release him, $9.34 million would count as "dead money" against the cap, per Spotrac.com.
While $9.34 million is no small amount, cutting Palmer would allow the team to save $4.66 million, which the team could certainly use.
No offense to Mr. Palmer, but he's nowhere near worth that kind of cash.
Judging strictly by the numbers, Palmer was an average quarterback last year. He has also proven to be just an above-average quarterback throughout his career.
Palmer's best year as a pro came all the way back in 2005, his second season in the league. He threw for 3,836 yards with 32 touchdowns and just 12 interceptions, completing 67.8 percent of his passes for a passer rating of 101.1.
If he produced numbers like that year in and year out, Palmer would be worth the amount of money he's owed.
But he doesn't produce numbers like that every year—not even close.
|Comp. Pct. ||Yards||TD||INT||Passer Rating
|2012||61.1% (No. 14)||4,018 (No. 10)||22 (No. 15)||14 (No. 23)||85.3 (No. 16)|
|Career Per Season Average||62.5%||3,274||21||14.4||86.2|
Simply put, he's not worth $13 million per season.
Should the Raiders cut Palmer or keep him for the 2013 season?
The $4.66 million the team would save by cutting Palmer loose would give it the salary cap room to do one of two things:
- Sign one of the veterans available right now in free agency.
- Draft a young quarterback to compete with Terrelle Pryor this summer.
Palmer isn't the team's future quarterback, and hanging onto him now doesn't make any financial sense.
Should Palmer refuse to make a deal, the only logical move general manager Reggie McKenzie can make is to simply let Palmer walk.
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