The Raiders flipped his $12.5 million base salary in 2012 to an $11.68 million roster bonus, which prorates like a signing bonus, to go along with an $825,000 base salary. They agreed to the change on Thursday.
This was a deal that made a great deal of sense for both parties, as the Raiders get a desperately needed $9 million dollars in cap relief while the 32 year-old Palmer, who was acquired in a trade with the Cincinnati Bengals a year ago and threw for 2,753 yards with 13 touchdowns and 16 interceptions in nine starts for Oakland, increases the amount of guaranteed money he will receive this season from around $5 million to $12.5 million.
Palmer joins defensive lineman Richard Seymour and safety Michael Huff as Raiders players who have re-done their contracts in this week alone, and if the Oakland front office can continue to hack away at what was a reported $22 million salary cap shortfall when the offseason began they may actually end up with the Raiders having room to potentially add a free agent or two, which was all but unthinkable only a few weeks ago.
After over a decade of being the definition of dysfunction in the National Football League the Oakland Raiders players and executives have operated with a refreshing level of professionalism since the hiring of new general manager Reggie McKenzie, and for the first time in many years Raider Nation heads into free agency and the NFL draft with a renewed sense of hope and not a gnawing sense of dread.
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Article Source: Bleacher Report - Oakland Raiders
