Report: Cardinals restructure Carson Palmer's contract

The Arizona Cardinals and Carson Palmer have agreed to restructure the quarterback's contract in order to save about $7.125 million against the cap in 2015, according to ESPN Stats & Information.

The financial wrangling involved converting Palmer's $9.5-million roster bonus to a signing bonus. 

The deal doesn't add any new money or years and lowered Palmer's cap number from $14.5 million to $7.375 million.

The deal allows the Cardinals to pursue the most coveted free agents as of March 10.