NFL Rumors: Latest Buzz on Nate Washington, Carson Palmer's Contract and More

The 2014 NFL trade deadline is fast approaching on Oct. 28, and rumors have begun to swirl. At this point in the year, every franchise assesses its roster and decides the value of each player. Important decisions regarding these players' futures follow suit.

A player who has been exceeding expectations and appears to be an integral part of his team's future can sometimes be rewarded with a lucrative midseason contract extension. However, there are some players who aren't viewed as part of the future plans, and that results in a spot on the trade block.

Both extending a player's contract or making a trade at his point in the year is extremely risky. If the move doesn't lead to a larger number in the win column, the jobs of coaches or front-office personnel can be in jeopardy. Simply put, a move has to be worth the gamble.

A few rumors regarding some potential transactions have recently surfaced around the Internet. Here's a look at the most recent gossip for each.

Nate Washington

Wade Payne/Associated Press

Washington could find a new home in the NFL before the trade deadline. The veteran wide receiver has been known to be a fine playmaker, but due to the youth and explosiveness in the Tennessee Titans wide receiver corps, Washington could be the odd man out.

According to a tweet from Around the NFL, analyst Ian Rapoport relayed interest expressed in the receiver:

Washington showed good production while in Tennessee, recording one 1,000-yard season in 2011 and falling just short of that mark in 2013. However, the emergence of second-year player Justin Hunter appears to have made Washington expendable.

One issue surrounding possibly dealing Washington is his current contract. He's in the final year of a six-year, $26.8 million deal and is set to make $4.8 million this season, according to Spotrac.com. Jim Wyatt of The Tennessean broke down what a team would have to pay per game to acquire the wide receiver's services:

With that contract in place, a suitor would need to be a contending, wide receiver-needy team that has plenty of cap space remaining this season. That severely limits the market.

Carson Palmer

Ben Margot/Associated Press

The Arizona Cardinals' veteran quarterback regained his health, and he didn't show many signs of rust following his return to the gridiron. Palmer surged back, passing for a total of 503 yards and four touchdowns against just one interception in two games.

With his passer rating now at 103.3 for the season, and without an unquestioned heir apparent behind him on the roster, the Cardinals opened up talks for a contract extension, via AZCentral's Kent Somers:

An extension for Palmer makes perfect sense for Arizona. He may be 34 years of age, but he's also been playing some of the best football we've seen from him since his time in Cincinnati. He's a perfect fit for the Cardinals' vertical passing game and it looks like he has a few good years left in the tank.

Injury doesn't appear to be an issue at this point, either. Darren Urban of AZCardinals.com tweeted an update regarding the quarterback's throwing shoulder:

Palmer is set to make a total of $12 million next season, according to Spotrac.com. Keeping him around for a few more years around that price tag could prove to be very beneficial.

Brian Hoyer

John Raoux/Associated Press

While some players are getting paid around this time of year, Hoyer isn't one of them. Despite leading the Browns to an unexpected 3-3 record through six games, the team isn't interested in giving the sixth-year veteran any kind of extension, via ESPN's Ed Werder:

This could have been the expected scenario for this team. While Hoyer has been very good in Cleveland, he hasn't done enough to warrant contract alterations. At the moment, he doesn't appear to be much more than a game manager, throwing more than one touchdown pass in just one contest this season. Meanwhile, his 55.8 completion percentage is slightly concerning.

Making matters a little more difficult for Hoyer's hopes of earning a contract extension with the Browns is the presence of enigmatic rookie signal-caller Johnny Manziel.

Cleveland moved up in the draft to select Manziel, and common wisdom would suggest the team would like to see what it has in the young quarterback before completely shifting in another direction.

Of course, Hoyer could tear it up for the remainder of the season and force Cleveland's hand; however, based on what we've seen to this point, that's highly unlikely. Expect the Browns to allow Hoyer's contract to expire, giving the franchise enough time to make an informed decision regarding their future at the quarterback position.