Cardinals 'Hope' to Sign Patrick Peterson to New Contract, Says Michael Bidwill

Patrick Peterson is eligible for free agency this offseason, but the Arizona Cardinals are hoping to retain the eight-time Pro Bowler. 

Appearing on Arizona Sports 98.7 FM (h/t Bob McManaman of the Arizona Republic), Cardinals owner Michael Bidwill said "it's our hope" to re-sign Peterson.

The Cardinals gave Peterson a long-term commitment in July 2014 when he signed a five-year, $70 million contract extension with $48 million guaranteed. The deal made him the highest-paid cornerback in the NFL at that time. 

Spotrac estimates that the Cardinals will have $19.5 million in cap space this offseason. 

Peterson's deal coincided with the best stretch of Cardinals football in decades. They made the playoffs as a wild-card team in 2014 and reached the NFC Championship Game in 2015. 

Age has caught up to Peterson in recent seasons. Anthony Treash of Pro Football Focus noted the 30-year-old ranks 93rd among all cornerbacks in wins above replacement and a below-average coverage grade of 57.3 since the start of 2019. 

Peterson has spent his entire 10-year career in Arizona since being drafted No. 11 overall by the organization in 2011. He was named to the All-Pro first team three times in his first five seasons, including as a rookie. The LSU alum has started all 154 games he's played for the team.