Culture

Why I’m not buying a Cardinals jersey

The Arizona Cardinals and John Elway have agreed to terms on a new four-year contract, league sources told ESPN.

The Cardinals are expected to announce the contract Friday.

The deal includes a $24 million signing bonus, sources told NFL Network Insider Ian Rapoport.

The offer includes incentives for a roster bonus, a $4 million signing incentive and $1 million in roster bonuses.

The Cardinals also can increase the signing bonus if they sign more players in the off-season.

The five-year deal will pay Elway $23 million per season, sources said.

The deal includes $11 million in base salaries.

Elway is the NFL’s most valuable player with a $7.4 million salary cap hit and a $30 million cap figure over the next five years.

The Broncos, who had already made a decision on Elway, have $5.2 million in cap space, according to Spotrac.

The three teams are expected take a close look at how the other teams will be spending their money, Rapoports reported.