UPDATE (Tuesday, 10:53 a.m.) -- The Raiders confirmed the trade in a press release.
After acquiring quarterback Matt Flynn from the Seattle Seahawks Monday, the Raiders shipped off Carson Palmer Tuesday.
From the Raiders, Arizona receives Palmer and a seventh-round 2013 selection (219th overall, a pick initially acquired by Oakland from Carolina for WR Louis Murphy in July). From the Cardinals, Oakland receives a sixth-round selection in this month’s draft (176th overall, initially obtained by Arizona from Tennessee, through Minnesota), as well as a conditional 2014 Arizona draft choice.
“We’d like to thank Carson Palmer for his services over the past two seasons,” GM Reggie McKenzie said, “and we wish him well with the Cardinals.”
Palmer was owed $13 million in base salary in 2013 and $15 million in 2014, with salary cap numbers of $15.335 million and $17.335 million, respectively. Those huge numbers stem from Palmer restructuring his contract last season to play for the veteran minimum of $825,000, a move that gave the 2012 Raiders badly needed salary cap relief.
The nine-year NFL veteran will reportedly get $16 million over two years from the Cardinals, with $10 million guaranteed and an additional $4 million in potential incentives.
[RELATED: Raiders get Flynn, hope to move Palmer]
Palmer's departure leaves Flynn and Terrelle Pryor as the only quarterbacks on the Raiders roster.