Dec 29, 2013; Phoenix, AZ, USA; Arizona Cardinals cornerback Patrick Peterson (21) against the San Francisco 49ers at University of Phoenix Stadium. Mandatory Credit: Mark J. Rebilas-USA TODAY Sports

NFL Rumors: Arizona Cardinals to exercise Patrick Peterson's option, hope to extend him

Arizona Cardinals’ cornerback Patrick Peterson has develop into a big time defensive back and play maker.

Soon, he will want to be paid like it.

According to Kent Somers of AZCentral.com, the Cardinals are going to exercise Peterson’s option that will keep him with the Cardinals through the 2015 season and hope to work out a long term extension for him.

The Cardinals decision to pick up the option was expected, because it allows them to keep an elite player under contract and gives the team leverage in negotiations for an extension.

With two years remaining on his rookie deal, and the threat of a franchise tag, the Cardinals could retain Peterson’s rights through 2016.

The team does pay a toll if it follows that road. The $10 million salary in 2015 becomes fully guaranteed at the start of the season. This year, the franchise number for cornerbacks is nearly $12 million and it will increase a year from now.

Peterson was drafted by the Cardinals with the fifth overall pick in the first round of the 2011 NFL Draft. Last season, he had 42 tackles and three interceptions.

Tags: Arizona Cardinals NFL Rumors Patrick Peterson

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