The Arizona Cardinals have announced that they have signed quarterback Carson Palmer to a three-year contract extension to keep him at the club until the end of the 2017 season.

The 34-year-old joined the team in the 2013 season in a trade with the Oakland Raiders for a sixth-round Draft pick, and has become a solid player for Bruce Arians's side in his time in Glendale.

Palmer's extension is reportedly worth $50m (£31.5m), with $20m (£12.6m) of the contract guaranteed through the 2015 campaign.

Cardinals general manager Steve Keim said in a statement: "Carson has played at an incredibly high level and has been a huge part of the team's success.

"When you combine his on-field performance with the leadership, stability and professionalism he brings to our team, there was no question that we wanted to extend the relationship and we are excited he felt the same way."

The Cardinals have the best record in the NFL in the 2014 season as they are currently 7-1 after nine weeks of the campaign.