Carson Palmer Contract: Latest News and Rumors on Negotiations with Cardinals

With quarterback Carson Palmer once again healthy, contract negotiations with the Arizona Cardinals have opened up.

Continue for updates.

Updates from Thursday, Nov. 13

Full Breakdown of Palmer's New Contract

Carson Palmer may be out for the season, but he won't have to worry about his contract. ProFootballTalk's Mike Florio broke down the specifics of his new deal:

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The move gives him significant security; if he can’t play through 2015 due to injury, he’ll still get $20.5 million he wouldn’t have previously received.  Per a source with knowledge of the deal, here’s the full breakdown. 

1.  $6.5 million signing bonus.

2.  $3.5 million roster bonus, earned on November 8.

3.  $4.235 million in remaining fully-guaranteed base salary for 2014.  (He already was due to earn $4.235 million for the balance of the season, and as a practical matter it already was guaranteed.)

4.  $9.5 million 2015 roster bonus, due on the fifth day of the league year.  The bonus is guaranteed for injury only at signing.  As of the fifth day of the 2015 waiver period, the roster bonus becomes fully guaranteed.

5.  $1 million 2015 base salary, guaranteed for injury only at signing.  As of the fifth day of the 2015 waiver period, the base salary becomes fully guaranteed.

6.  $6.5 million 2016 base salary.  As of the fifth day of the 2016 waiver period, the base salary becomes fully guaranteed.

7.  $6.5 million 2016 roster bonus, due on the fifth day of the league year.  As of the fifth day of the 2016 waiver period, the roster bonus becomes fully guaranteed.

8.  $8.15 million 2017 base salary.  As of the fifth day of the 2016 waiver period, the base salary becomes fully guaranteed.

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Updates from Friday, Nov. 7

Palmer and Cardinals Agree to Three-Year Extension

CBS Sports' Jason La Canfora reports a deal has been reached:

Carson Palmer Extension Iminent

NFL Network's Ian Rapoport expects a deal to be done soon:

Pro Football Talk's Mike Florio has the latest on talks between the Cardinals and Palmer:

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He won’t be if he signs a contract extension, and the signs currently are pointing to Palmer signing a contract extension in the very near future.

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Original Article from Thursday, Oct. 16

General manager Steve Keim confirmed the team is in discussion with Palmer's agent, Dave Dunn, on a new deal, according to AZCentral.com's Kent Somers:

"I won't get into specific points of the negotiations, but we've had some dialogue with Dave Dunn," Keim said, via Somers. "He [Palmer] has done a great job for us."    

Palmer, who was acquired from the Oakland Raiders in April 2013, is under contract through the 2015 NFL season, according to Spotrac. Per Somers, though, the final year of the contract will void if he remains on the Cardinals roster five business days after the Super Bowl on Feb. 1.

In 18 starts since the move to Arizona, Palmer's numbers are steady if not unspectacular, as he has completed 63.4 percent of his throws for 7.39 yards per attempt, 28 touchdowns and 22 interceptions, per Pro-Football-Reference.com.

Remember, though, the first half of 2013 was largely spent getting adjusted to head coach Bruce Arians' vertical scheme. In Palmer's last 11 games, those numbers have jumped to 65.4 percent, 7.98 YPA, 20 touchdowns and just nine interceptions.

Ross D. Franklin/Associated Press/Associated Press/Associated Press

This season, he missed three games with a malfunctioning nerve in his throwing shoulder but has looked dangerously efficient when healthy, throwing for 554 yards, four touchdowns and zero interceptions in two wins.

Palmer is 34 years old, so there may be some concern in inking him to a long-term deal. But the Cardinals got to see what life without Palmer would be like, and it wasn't pretty. In the three games he missed, Drew Stanton completed 48.9 percent of his throws while rookie Logan Thomas went 1-of-8 in limited action.

The Cardinals have the young playmakers in Michael Floyd, Andre Ellington and John Brown. Now, they just need someone who can get them the ball consistently.

It would appear they feel confident Palmer is the man for that job, and judging by recent production, it's hard to blame them.