Arizona Cardinals, Larry Fitzgerald Closing in on a Multiyear Deal

Larry Fitzgerald is staying in Arizona.

The veteran wide receiver and the Arizona Cardinals are closing in on a multiyear contract, league sources revealed to ESPN's Adam Schefter.

The Cardinals have made it clear that one of their top priorities was to restructure Fitzgerald's contract. This new deal will allow Fitzgerald, 31, to finish his career in Arizona. It will also free up salary cap space that would allow the Cardinals to potentially land a top free agent once the league officially starts on March 10.

"It would be awfully tough for me to see Larry Fitzgerald wearing another uniform," Cardinals general manager Steve Keim said on KMVP-FM in Arizona last week. "I don't want to negotiate through the media. I have a lot of respect for not only the player -- tremendous amount of respect for Larry Fitzgerald -- but have a great relationship with (Fitzgerald's agent) Eugene Parker, who I've worked with on a number of players."

Prior to the negotiations, Fitzgerald's contract had a $23 million salary cap in 2015. He is due $16 million next season. He is also due $60.5 million over the next four years. Details on his new contract have not been revealed yet.

Fitzgerald, an eight-time Pro Bowler, has only played for the Cardinals in his 11-year professional career. He is the franchise's all-time leader in several receiving categories and has recorded 12,151 yards and 89 touchdowns.

Although Fitzgerald has played impressively for the Cardinals, his production has declined. Over the past three years, Fitzgerald failed to reach 1,000 receiving yards in each season. In 2014, he made 63 receptions, the second lowest in his career, for 784 receiving yards, which was his lowest since his rookie year. He also had a career-low of just two touchdowns.

Fitzgerald will turn 32 in August.