Carson Palmer raised some eyebrows when he mentioned Thursday he had restructured his contract to help the Cardinals create salary cap space. It wasn’t that the idea was a shock — indeed, the notion was out there — but the fact Palmer said it was done.
Turns out, Palmer wasn’t quite on point, of which he was informed after the fact. Palmer has indeed agreed to a restructure — which likely would include turning an option bonus into signing bonus, clearing about $7 million of cap space — but it has not yet been executed. So the Cardinals still figure to have around $14 million of cap space heading into next week. What it does mean is that the Cardinals and GM Steve Keim have some reserves in their back pocket if the team were to need more cap space during free agency. (And there are probably a couple of other players who might also be in that position to restructure if needed too.) If the Cardinals don’t need the space, they would hold off on doing the restructure, because any restructure would push dead money into future caps, and you want to avoid that if possible.
The question becomes, just who might the Cardinals be eyeing on the market that Keim would want to have such flexibility? That’s where these next couple of weeks turn fun. Let the speculation begin.
Tags: Carson Palmer, salary cap, Steve Keim
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