Adam Schefter and Ian Rapoport are reporting that Larry Fitzgerald and the Cardinals are nearing a cap restructure and extension that will keep the talented receiver in Arizona long term. Fitzgerald is due $16 million in 2015 and his cap hit goes to $23 million, making this deal absolutely necessary for the Cardinals.
Update: The deal is done, per reports. Fitzgerald will make $11 million in 2015 and $11 million in 2016, all guaranteed. The restructure clears $13 million in cap space for Arizona.
There were rumors/speculation that Fitz would get released and possibly hit the free agent market, and of course there were many linking Fitzgerald with the Seahawks, who could use a receiver of his talent and experience. That doesn't appear to be in the cards.
Fitzgerald caught 63 passes for 784 yards and two touchdowns in Arizona's chaotic quarterback situation last year, a steep decline from the average numbers over his illustrious career, but he's still one of the better players at his position in the NFL -- he catches everything, he's an effective and physical blocker, and is known to be one of the highest-character guys in the league.