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Patrick Peterson, Cardinals reach five-year extension

The Arizona Cardinals have one of the most talented defenses in football. And now they have one of the most talented cornerbacks in the NFL locked up long-term.

Patrick Peterson and the Cardinals reached agreement on a five-year extension through 2020, the team announced Tuesday night.

Peterson says that the deal is worth $70 million with $48 million guaranteed. NFL Media Insider Ian Rapoport confirmed that Peterson is now the highest paid cornerback in the league.

Rapoport added Wednesday that Peterson received a $15.3 million signing bonus, per a source who's seen the deal, and $27.869 million will become fully guaranteed in 2015 on the fifth day of the waiver period. Additionally, $42.6 million becomes fully guaranteed on the fifth day of the waiver period in 2016, per Rapoport.

Peterson and the Cardinals have been working on this deal since February, according to Rapoport. Peterson can make a strong argument as the most talented cornerback in the league. If there was an "ultimate draft" of NFL players, we believe most general managers would take him over all other cornerbacks -- even Richard Sherman. Peterson's cover skills have been somewhat up and down since entering the league, but he's coming off his strongest season.

Arizona has always asked Peterson to do more than most young cornerbacks. In an era where zone coverage and safety help are expected, Peterson often tracks the opposing team's best wide receivers. He's no longer going to return punts or play on offense in Arizona, concentrating solely on his coverage duties.

In Peterson, Antonio Cromartie, and Tyrann Mathieu, the Cardinals have an intriguing secondary. They have tons of talent on the defensive line too with Calais Campbell and Darnell Dockett.

With this contract, Peterson will now be expected to lead them. 

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