The Oakland Raiders would save roughly $6 million by releasing quarterback Carson Palmer, according to the Bay Area News Group, as his salary cap number would drop from $15.335 million to $9.34 million.
A report yesterday suggested that it is “highly unlikely” that Palmer would agree to restructure his contract for next season.
Palmer is set to make $13 million next season, and he will probably need to take a pay cut similar to that of Eagles quarterback Michael Vick.
Vick, who was owed $15.5 million in 2013, inked a deal with the Eagles that could make him up to $10 million with a base salary of $7.5 million, a fairly large slash in salary.
If Palmer does not take the pay cut, the Raiders will cut him and turn to Terrelle Pryor as their starting quarterback.
In a recent email exchange with CSNBayArea, Palmer wrote, “Not sure what’s going to happen.Would love to be back in Oakland and compete.”
The veteran quarterback was traded to the Raiders midway through the 2011 season after an injury to Jason Campbell. Since then Palmer has been the starter for the Silver and Black.
In 15 games last season, he threw for over 4,000 yards, 22 touchdowns and 14 interceptions with a quarterback rating of 85.3. Palmer was severely handicapped, as injuries hampered most of his offensive weapons downfield, his running back, and his offensive line.