The Bengals today traded QB Carson Palmer to the Oakland Raiders. The Raiders will compensate the Bengals with their first-round choice in the 2012 draft and their second-round choice in the 2013 draft.
"Several factors made us believe that trading Carson to Oakland was the best move for the Bengals at this time," said Bengals president Mike Brown. "The principal development has been Andy Dalton, who has shown himself to be one of the best and most exciting young quarterbacks in the NFL. We have a good, young football team, and Andy can be the cornerstone of that team for a long time.
"We also find ourselves rather suddenly in position of being able to receive real value for Carson that can measurably improve our team – which is performing well and is showing real promise for this year and years to come. When this opportunity arose, we felt we could not let it pass, and needed to take a step forward with the football team if we could."
The Bengals drafted Palmer with the first overall pick in the 2003 draft. Palmer was with the team through last season, leading Cincinnati to AFC North Division championships in 2005 and '09.
"Carson helped elevate the franchise here," said Bengals head coach Marvin Lewis. "He played at a very high level for us, and I wish him well with the Raiders. We obviously have a strong belief in the ability of Andy Dalton to continue playing well and to be the leader of our offense. He has been exceptionally effective for a rookie, and as good as he has been, we know he has tremendous potential to be even better."
Pending any future moves, the Bengals in 2012 will have two first-round draft choices for the first time since 1998, when LBs Takeo Spikes and Brian Simmons were chosen with the No. 13 and No. 17 selections. The Bengals obtained the No. 17 pick, along with a third-round choice, from the Washington Redskins in exchange for DT Dan Wilkinson.
The Bengals had been adamant that they wouldn't trade Palmer, who hasn't played since the end of last season. The franchise quarterback decided he wanted out of Cincinnati, which has only two winning records in the last 20 years.
Owner Mike Brown repeatedly insisted he wouldn't consider Palmer's request for a trade because he didn't want to reward him for holding out. He changed his mind after the Raiders offered a first-round pick as part of a package for the 31-year-old quarterback, according to the person familiar with the talks, speaking on condition of anonymity because no deal was done.
The Raiders (4-2) became desperate for a quarterback after Jason Campbell broke his collarbone during a win over the Browns on Sunday. Oakland was left with Kyle Boller as the starter.
If the Raiders hadn't made a first-round pick as part of its offer, the Bengals were content to let Palmer sit out the entire season and consider trading him next year. Campbell's injury changed the scenario.
Palmer would be a good fit with the Raiders, who like to throw downfield. Palmer won the Heisman Trophy at Southern California after the 2002 season and was the first overall pick in the following NFL draft. Raiders coach Hue Jackson was the offensive coordinator at USC from 1997-2000 and a Bengals assistant from 2004-06, working with the receivers.
The Raiders would likely renegotiate Palmer's deal, which includes $1 million roster bonuses each of the next three years and base salaries of $11.5 million, $13 million and $14 million in 2014.
Copyright 2011 FOX19. All Rights Reserved. The Associated Press contributed to this report.