By Jess Root
Quarterback Carson Palmer announced his retirement in January. That announcement was made official according to the league on Tuesday. The Arizona Cardinals officially moved him off the active player roster and on to the reserve/retired list.
As a result, his salary for 2018 comes off the books. He was due to make more than $14 million and count more than $20 million against the salary cap. Now they will only carry some dead money of about $6.6 million.
Now, according to Over the Cap, the Cardinals have $22.7 million in salary caps space for 2018. They are expected to release running back Adrian Peterson before free agency begins, which will free up another $3.5 million.
Because the Cardinals did not outright release Palmer, he still viably could return if he wanted. By all accounts, there is no chance that happens.
The move, though, signals the end of an era and the beginning of the search for the Cardinals’ next starting quarterback. With at least $26 million in cap space, they can go get anyone they want.