Unwilling to restructure for Raiders, Palmer takes pay cut in Arizona

Unwilling to restructure for Raiders, Palmer takes pay cut in Arizona
April 4, 2013, 9:30 am
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Carson Palmer can make up to $20 million over the next two years with Arizona. (AP)

Unwilling to give money back to the Raiders, Carson Palmer is reportedly taking a sizable pay cut with the Arizona Cardinals and ponying up an additional chunk of change to keep his familiar No. 3 jersey number.

Palmer, who was dealt to Arizona on Tuesday, would have made $28 million over the next two seasons with the Raiders. His new deal with the Cardinals will now pay him $16 million over the next two seasons. He has a chance to earn an additional $4 million through performance incentives, which would bring the final value of the two-year deal to $20 million.

[RELATED: Palmer: 'Raider Nation is unbelievable']

Palmer's restructured deal with his new team will pay him less than what the Raiders wanted to pay him to return, according to a report by USA Today, which notes that the Raiders had asked Palmer to take a $3 million pay cut in 2013. It's unknown if the Raiders asked Palmer to give back any of his 2014 salary or if they would have asked him restructure again next offseason.

[RELATED: Oakland's never-ending search for a franchise quarterback]

Shortly after arriving in Arizona, Palmer saw more money going out when he opened up his wallet for the right to wear No. 3 next season for the Cardinals. Cardinals kicker Jay Feely, who was No. 3 last year, took to Twitter to announce that Palmer was making a donation to the Feely Family Foundation in exchange for the jersey number:

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