Post by TheShadow on Mar 25, 2013 20:05:30 GMT -5
www.insidebayarea.com
By Steve Corkran
Bay Area News Group
Quarterback Carson Palmer helped out the Raiders last year by restructuring his contract. He isn't intent upon doing so again this year, according to a report Monday.
An ESPN report said Palmer is "highly unlikely" to redo a contract that calls for Palmer to earn $13 million in base salary this season.
Last season, Palmer helped the Raiders save more than $9 million in salary-cap room by restructuring his contract.
Palmer's base salary dropped from $12.5 million to $825,000, in exchange for an $11,675,000 signing bonus spread out over five years. In terms of dollars, Palmer ultimately will receive the same amount he originally was scheduled to make.
As of now, Palmer counts $15.335 million against the cap for 2013, with $2.335 million coming as a result of the prorated portion of the signing bonus — spread out over five years -- from last season's reworked deal.
The Raiders already have restructured a few contracts this offseason as a means of freeing up cap room. Restructuring Palmer's contract a third time — the first time came after the Raiders traded for him in 2011 — would give the Raiders even more cap room for 2013.
If Palmer balks, the Raiders options are limited to: cutting Palmer or paying him what he is slated to earn as of now. Palmer would count $9.34 million against the cap if he gets cut, though the Raiders would get out from under the $13 million base salary this season and $15 million base salary for 2014.
Palmer could not be reached for comment. A Raiders spokesman said the team's policy is not to comment on contract situations.
By Steve Corkran
Bay Area News Group
Quarterback Carson Palmer helped out the Raiders last year by restructuring his contract. He isn't intent upon doing so again this year, according to a report Monday.
An ESPN report said Palmer is "highly unlikely" to redo a contract that calls for Palmer to earn $13 million in base salary this season.
Last season, Palmer helped the Raiders save more than $9 million in salary-cap room by restructuring his contract.
Palmer's base salary dropped from $12.5 million to $825,000, in exchange for an $11,675,000 signing bonus spread out over five years. In terms of dollars, Palmer ultimately will receive the same amount he originally was scheduled to make.
As of now, Palmer counts $15.335 million against the cap for 2013, with $2.335 million coming as a result of the prorated portion of the signing bonus — spread out over five years -- from last season's reworked deal.
The Raiders already have restructured a few contracts this offseason as a means of freeing up cap room. Restructuring Palmer's contract a third time — the first time came after the Raiders traded for him in 2011 — would give the Raiders even more cap room for 2013.
If Palmer balks, the Raiders options are limited to: cutting Palmer or paying him what he is slated to earn as of now. Palmer would count $9.34 million against the cap if he gets cut, though the Raiders would get out from under the $13 million base salary this season and $15 million base salary for 2014.
Palmer could not be reached for comment. A Raiders spokesman said the team's policy is not to comment on contract situations.