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QB Palmer signs extension through 2014

ESPN.com news services

 

Cincinnati Bengals quarterback Carson Palmer signed a contract extension through the 2014 season on Thursday.

 

Palmer, the No. 1 pick in the 2003 draft, is in his second year as starter for the Bengals, who are 11-4 and have won the AFC North Division.

 

He has been voted to the AFC squad for the Feb. 12 Pro Bowl. He leads the NFL in TD passes with 32, completion percentage at 67.9 percent and TD-interception differential at plus 20.

 

"As a player and a person, Carson has met and gone beyond every expectation I had for him," said Bengals head coach Marvin Lewis.

 

Palmer, who won the Heisman Trophy in 2002, his final season at the University of Southern California, call the signing "a great moment for me both professionally and personally."

 

He is the NFL's third-rated overall passer at 101.4, bidding to become the first Bengal to finish a season with a rating of 100 or more.

 

This makes me happy. :lol

 

Rips up one of those brutal 1st overall pick contracts and extends him by 5 seasons.

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Financial details are unknown. All that is known at this time is today was the last day to use any cap room left for the 2005 season and they gave all we had left to him.

 

I'll be interested to see his cap numbers for the next couple seasons, since we all know this will be renegotiated again in 3-4 years anyway. We're not really in cap trouble at all, but I want to see if we lowered his number some. He had huge balloon payments coming from his #1 pick contract in the next couple seasons.

 

Now we just gotta extend Chad and avoid any nonsense that could happen this off-season.

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Financials:

 

What some industry sources are calling the biggest deal in the history of the NFL at $118 million over nine years came through negotiations between Bengals vice president Katie Blackburn and agent Dave Dunn of Athletes First in talks that were initiated by the club and began several weeks ago.

 

Dunn said Thursday that the deal pays Palmer $30 million over the next 13 months and is structured differently than Peyton Manning?s seven-year, $98 million deal because it offers more salary cap flexibility via a mix of option bonuses, roster bonus, and salary. The other similar big quarterback deal is Michael Vick's nine-year, $110 million contract.

 

?Carson only wanted to do the deal if it would help keep the team together financially,? Dunn said. ?Carson?s concern was not the money. It was doing it within a structure to sign other core players.?

 

Palmer didn?t want to disrupt a game week with the news, but had no choice since timing was such a factor. Friday at 4 p.m. is the deadline for using salary cap room for the 2005 season. The Bengals figured to have used up all of their reserve that was somewhere between $3-4 million, plus they can use ?05 as a pro-ration year to spread out roster and other bonuses throughout the deal and lessen the cap hit of each year.

 

Palmer, finishing the third year of a six-year deal, appeared at a pre-practice news conference with Lewis at Paul Brown Stadium and reiterated his desire to keep the team, particularly the offensive line intact with all his starting linemen due up after the 2006 season.

 

?It?s a good day for the Bengals. It?s a good day for Cincinnati,? Lewis said.

 

Industry sources put the six-year extension at about a $16 million per year average.

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heck of a signing and heck of a deal. The bengals have become a great team over the past few years. They should lock up their GM and Coach long term. And their offensive coordinator, I expect him to be swiped in the next year or two by someone.

 

Bob Bratowski sucks. He's left over from the sh*t years.

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Is Carson Palmer really worth the most lucrative contract in NFL history?

Good question. It would seem the FO seems his first huge year was worth it. I give the kid credit for thinking of his team before the money. You don't see that everyday and I have tons of respect for that. Some people around the NFL could learn a few lessons from him :thumbup . Its a shame he doesnt play baseball b/c that $110 mill would look nicer in his bank.

 

Congrats to the Bengals for taking another step in the right direction. Im sick of seeing the QB carousel in Miami and would welcome a signing like this anyday to the right person.

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heck of a signing and heck of a deal. The bengals have become a great team over the past few years. They should lock up their GM and Coach long term. And their offensive coordinator, I expect him to be swiped in the next year or two by someone.

 

Bob Bratowski sucks. He's left over from the sh*t years.

 

:blink:

 

I love how much Bratkowski gets hated on like he has nothing to do with the ridiculous success of our offense.

 

Him leaving wouldn't be a huge deal though, I think we'd probably just promote Zampese from QB coach.

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heck of a signing and heck of a deal. The bengals have become a great team over the past few years. They should lock up their GM and Coach long term. And their offensive coordinator, I expect him to be swiped in the next year or two by someone.

 

Bob Bratowski sucks. He's left over from the sh*t years.

 

:blink:

 

I love how much Bratkowski gets hated on like he has nothing to do with the ridiculous success of our offense.

 

Him leaving wouldn't be a huge deal though, I think we'd probably just promote Zampese from QB coach.

 

I wouldn't mind Bratkowski leaving...

 

But only if we get Mike Martz!

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