Oakland GM Reggie McKenzie said he wants to build the Raiders the right way, and the first thing is fix Carson Palmer’s ridiculous contract.
Palmer hasn’t been the franchise quarterback, or even a top level one, so it makes sense to reduce his salary.
The Raiders front office wants to align Palmer’s performance with his contract. Palmer signed a six year contract extension through the 2014 season with the Bengals on December 29, 2005.
In addition to the three years remaining on his existing deal, the value of the extension was worth $118.75 million over nine years. Mike Florio of Profootballtalk.com writes:
In Palmer’s case, a restructuring would be more along the lines of a steep pay cut. Palmer is due to earn a base salary of $13 million in 2013.'