Quarterback Carson Palmer was traded from the Oakland Raiders to the Arizona Cardinals on Tuesday in a deal that includes the swap of 2013 draft picks and a conditional pick in 2014.
Palmer, 33, also agreed to a new contract with the Cardinals. The team did not disclose the terms of the deal, but league sources told ESPN NFL Insider Adam Schefter that the restructured contract is for two years and worth $16 million. It also gives the Cardinals an out after one year if the situation is unsatisfactory. Palmer was due to make $13 million this season.
As part of the deal, the Cardinals sent the second of their sixth-round picks (176th overall) to the Raiders in exchange for Oakland’s seventh-round pick (219th overall). In addition, the Raiders will receive for a conditional seventh-round pick in the 2014 draft if Palmer starts 13 games for Arizona in 2013, a league source told ESPN.
The return the Raiders received for Palmer is far less than the price the team paid to acquire him from the Cincinnati Bengals in 2011: a 2012 first-round draft pick and a second-round selection in the 2013 draft.
Palmer will help solidify a Cardinals quarterback position that has been in flux since Kurt Warner retired after the 2009 season.
Quarterback Drew Stanton signed with Arizona last month, following new coach Bruce Arians after a season with the Indianapolis Colts. At the time of the signing, Arians said he was confident Stanton could handle the starting job, but it’s expected Palmer now occupies the top spot.
On Monday, the Cardinals released quarterback John Skelton, who started 17 games for the team the past three seasons.
The Raiders decided to move on from Palmer, acquiring quarterback Matt Flynn in a trade Monday with the Seattle Seahawks.
“We’d like to thank Carson Palmer for his services over the past two seasons,” Raiders general manager Reggie McKenzie said in a news release Tuesday, “and we wish him well with the Cardinals.”
Palmer put up prolific numbers in 2012, his first full season as a starter in Oakland, but that led to little success for the team, which went 4-12. He completed 61.1 percent of his passes and threw for 4,018 yards in 15 games — second-most ever for the Raiders — with 22 touchdowns and 14 interceptions.
“I talked to Carson, I guess it was probably Saturday, over the weekend, and kind of explained where we were at, what the process was. I think he and his representation totally understand where we’re at,” Raiders coach Dennis Allen said Monday in a conference call to discuss the acquisition of Flynn.
“I think, at the end of the day, when we looked at it both from his standpoint and from our standpoint, we just realized that it was time for us to move on and move forward. We felt like Matt Flynn gave us a great option,” Allen said.