Cardinals reward Peterson with five-year extension

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Peterson, taken with pick five by the Cardinals in the 2011 draft, is set to earn US$70million, taking him past the likes of Cleveland Browns' Joe Harden and Seattle Seahawks' Richard Sherman.

The 24-year-old, who has three Pro Bowl appearances to his name, tweeted his delight at securing the significant extension.

"Happy to announce my 5 year extension with @AZCardinals! $70M and $48M Guaranteed!!" Peterson posted.

The deal will keep Peterson with the franchise until 2020.

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