Murray signed a fully guaranteed four-year deal worth about $35 million, which includes a signing bonus worth roughly $23.5 million. The deal includes a fifth-year team option.
Since the most recent collective bargaining agreement was signed in 2011, rookie contracts have been standard and the salaries are slotted according to the increase of the salary cap.
"This is just the beginning," Murray said. "I plan to work as hard as I can, lead this team to a lot of wins and, hopefully, a lot of rings."
Murray's decision to play professional football instead of professional baseball paid off in the short term. After he was drafted in the first round in 2018 by the Oakland Athletics, Murray was given a signing bonus of $4.66 million. When Murray was debating between playing baseball or sticking with football, Oakland offered him an additional $14 million, according to reports. In total, the $18.66 million was still less than the signing bonus he received from Arizona.
"Everything I dreamed of," Murray said. "For me, being in Arizona and being a Cardinal, I can honestly say there is no place I'd rather be. It brings a smile to my face knowing I'll get the opportunity of a lifetime to quarterback this team. I just have to work toward that and earn that."
Murray's deal with the Cardinals contains language that protects the team in the event he chooses to play baseball. Arizona general manager Steve Keim had said last week that a deal with Murray would include such language.
Murray, who won the Heisman Trophy last season, will take part in the Cardinals' rookie minicamp Friday, Saturday and Sunday. Voluntary OTAs begin May 20.