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Patrick Peterson to 'wait and see' on contract situation

Will the Cardinals deal with his contract this offseason?

Mark J. Rebilas-USA TODAY Sports

Arizona Cardinals cornerback Patrick Peterson, with three years in the league now in the books, is now eligible to have contract talks. He has one year remaining on his current rookie contract and the team has an option for a fifth year. Many believe this offseason is when the team will begin extension talks.

So far that hasn't happened.

Peterson was on the golf course with head coach Bruce Arians for the Waste Management Phoenix Open Annexus Pro-Am and told reporters (via Arizona Sports) that the team has not approached him yet.

"I'm under contract for two more years, so I want to continue playing great football," he said. "Whenever Steve Keim and Michael Bidwill address me and my agent, we'll go from there."

he said that he wants to stay in Arizona, but will "wait and see what happens" because he knows that the football business is a business.

Peterson is set to make over $2.8 million in salary this coming season. He has a salary cap number of a little over $5 million.

Because of his value, a new contract could potentially increase that number some for at least the first season.

Arizona does not have a ton of room under the cap yet, so his contract might not yet be a priority. They are probably dealing with the upcoming free agent period and the NFL Draft.

While there is certainly plenty of time in the offseason to get his contract taken care of, it is possible that they do not even address it this offseason. They still have next offseason and, if they exercise the fifth year on his rookie deal, have another offseason after that. The fifth year salary would be equal to the average salary for veterans at that position, per the CBA, as he was drafted in the top 10. That actually could be less than what the Cardinals would have to pay him in a new deal. So while they can begin the process now if they want, there is certainly plenty of time to get him locked up long term if they want.

There are those that believe his contract extension would cost upwards of $50 million in guaranteed money.

With the Cardinals' salary cap situation, it might make sense to "wait and see" on their end as well.