Patrick Peterson DB ARI 24 Days

Cardinals signed CB Patrick Peterson to a five-year, $70 million contract extension -- that includes $48 million guaranteed -- through 2020.

Peterson is now locked up for the next seven seasons through his age-30 campaign. Richard Sherman received $40 million guaranteed on his extension with the Seahawks earlier in the offseason, but Peterson is two years younger and signed a longer deal. In terms of new money, Peterson will make $14 million per year, while Sherman received $14.35 million annually in new cash. Peterson was a top-11 cover corner at Pro Football Focus last season and is still coming into his own. At 6'1/219, he has the size to match up with any receiver.

Patrick Peterson DB ARI 25 Days

Yahoo's Rand Getlin reports the Cardinals are "close" to an extension with Patrick Peterson.

ESPN reported in May that the sides were discussing a deal worth more than $60 million. Peterson has a shot at becoming the league's highest-paid cornerback, though we doubt he's able to top Richard Sherman's $40 million guaranteed.

Patrick Peterson DB ARI 3 Months

Cardinals CB Patrick Peterson will not play on special teams or offense this season.

Peterson had a package of offensive plays last season, resulting in six catches and four carries. He's also been one of the game's premier punt returners for the last seasons, averaging 10.3 yards per return and scoring four touchdowns. But the Cardinals are preparing to sign him to a Richard Sherman/Joe Haden kind of deal, and don't need to risk injury with returners Ted Ginn/John Brown now on the roster.

Patrick Peterson DB ARI 3 Months

ESPN reports the Cardinals and CB Patrick Peterson are discussing a long-term contract extension that could be worth more than $60 million.

With Richard Sherman securing a $57 million extension that included $40 million guaranteed from the Seahawks last week, Peterson's agent and the Cardinals now have a template to work from. Peterson won't turn 24 until July. He's under team control through 2015 at just under $13 million, so there's no rush to get a deal done. Peterson and Joe Haden are next up for big extensions.

Patrick Peterson DB ARI 3 Months

Arizona coach Bruce Arians confirmed the team is unlikely to use CB Patrick Peterson as a wide receiver or kick returner after adding WR Ted Ginn Jr. in free agency and drafting WR John Brown in the third round.

The Cardinals tried and failed to get Peterson involved in the offense last season, and it seems that experiment is officially over. Ginn Jr. is expected to handle the kick and punt returning duties and help the offense as a situational deep threat. Brown can also help as a returner and brings blazing speed the wide receiver corps. Peterson can now focus on his main job as top-flight corner.

Patrick Peterson DB ARI 4 Months

The Cardinals are not believed to be in serious extension negotiations with Patrick Peterson yet.

Patrick Peterson DB ARI 4 Months

Cardinals exercised CB Patrick Peterson's fifth-year club option for 2015.

Patrick Peterson DB ARI 5 Months

DC Todd Bowles said Patrick Peterson will still be asked to shadow receivers at times.

In theory, the Cardinals could just "play sides" with their corners as long as newly signed Antonio Cromartie returns to 2012 form. But that would represent an under-utilization of Peterson, a potentially dominant press-man corner that is entering his prime. "It won't influence what Pat does," Bowles said of Cromartie's arrival. "They both match up well. Some games Pat will be matching up, some games Cromartie will be matching up, depending on the receiver."

Patrick Peterson DB ARI 5 Months

The Arizona Republic reports the Cardinals plan to exercise Patrick Peterson's fifth-year option for 2015 this offseason, and to begin extension talks.

The Cards have until May 3 to officially exercise Peterson's option. The extra year of team control gives Arizona leeway in long-term talks. Peterson fired his agent in January, fueling speculation that he was angling for an extension. Peterson passed up an opportunity last month to say he wouldn't hold out.

Patrick Peterson DB ARI 7 Months

Appearing on Tuesday's Pro Football Talk on NBC Sports Network, Patrick Peterson passed up an opportunity to say he wasn't considering a holdout.

Angling for a contract extension, Peterson recently switched agents. "I can't speak on that right now," Peterson said. "Me and my agent, we haven't talked about some of those possibilities. But hopefully we can get something done." Peterson is technically signed through just 2014, but the Cardinals can exercise a fifth-year option on his rookie contract. Arizona holds most of the cards in long-term talks.