By Steve Corkran
Monday, March 25th, 2013 at 2:27 pm in Oakland Raiders.
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.