Source: Carson Palmer took $5M pay cut

Raiders starting quarterback Carson Palmer restructured his contract and took a $5 million pay cut this season, according to an NFLPA source.

Under his old contract, Palmer was set to make $11.5 million this season. Over the course of the final 11 games, he would have made $7.44 million.

The Raiders now will pay him $2.5 million for the remainder of this season.

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