Many fans around the NFL were blown away by the amount of money the Seattle Seahawks guaranteed cornerback Richard Sherman when they gave him a $56 million contract with $40 million guaranteed. Patrick Peterson‘s new contract extension blows that out of the water.
Peterson announced on his Twitter account tonight that he signed a five-year, $70 million extension to stay with the Arizona Cardinals. The guaranteed money on the contract is an astounding $48 million. It is close to unheard of money for a position that isn’t quarterback, but cornerback is quickly becoming the second-most important position in the NFL.
— Patrick Peterson (@RealPeterson21) July 30, 2014
It looks like the Cardinals may have overpaid their star cornerback, but they knew they were going to have to. Luckily, the NFL salary cap should continue to increase year after year, which should make coping with the big hit a little easier.
Peterson is having a Darrelle Revis-type effect on the Arizona defense. He essentially takes away half the field, which is a chore to figure out for the offense. He is essential for an up-and-coming Cardinals team that is trying to survive in a tough NFC West division that includes the Seahawks and San Francisco 49ers.
This was the only move that the Cards could make. You have to pay your stars if you want to stay competitive. Peterson is going to be in the conversation for best cornerback in the league for the next decade. He is a generational talent. You cannot let that go, no matter how much it costs.