Carson Palmer, Cardinals Agree on New Contract: Latest Details and Reaction

With the Arizona Cardinals off to the franchise's best start (7-1) since 1974, they are betting on Carson Palmer for the present and future. 

The Cardinals made the deal official on Twitter:

Cardinals.com reporter Darren Urban had general manager Steve Keim's comment on the deal:

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Carson has played at an incredibly high level and has been a huge part of the team’s success. When you combine his on-field performance with the leadership, stability and professionalism he brings to our team, there was no question that we wanted to extend the relationship and we are excited he felt the same way.”

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ESPN's Chris Mortensen reported full terms of the deal:

Jason La Canfora of CBSSports.com first reported the deal.

As NFL.com's Gregg Rosenthal noted on Twitter, Palmer is getting paid like a franchise quarterback for the second time in his career:

Rumblings of a contract extension for Palmer originally surfaced in October. Cardinals GM Keim told Kent Somers of The Arizona Republic that the team had started discussions with Palmer's agent, David Dunn.

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

On the surface, this looks like a good deal for the Cardinals. The going rate for top starting quarterbacks in the NFL seems to be in the $16-20 million average per season. Palmer has had a nice turnaround in 2014, throwing for 1,385 yards, 11 touchdowns and two interceptions in five games. 

However, Palmer's new deal is not without risk. He missed three games this season with a shoulder injury that could be problematic long-term. At 34 years old, he's much closer to the end of his career than the beginning, though that explains why this is just a three-year pact. 

Of course, injury provisions are likely to be addressed in the language of Palmer's contract, according to La Canfora:

There's also the question of consistency with Palmer. While he's looked terrific most of this season, the 11-year veteran is just one season removed from throwing 22 interceptions and had thrown at least 13 picks in each of the last five years. 

No contract comes without risk and finding a starting quarterback is as difficult a task as there is in the NFL, so Arizona's faith in Palmer is not misguided. He's got the kind of skill set that plays well in Bruce Arians' system, so this marriage of quarterback and coach will get a chance to play out over the long term. 

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