Report: Former Texas great Colt McCoy makes NFL free agency decision

According to Adam Schefter of ESPN, Colt McCoy will be receiving a new two-year contract, worth up to $7.5 million. $6 million will be fully guaranteed at the signing. McCoy will be staying with the Cardinals, presumably as the main backup to former No. 1 overall pick Kyler Murray, for the 2022 and 2023 seasons.

The quarterback position has been the talk of the offseason for the Arizona Cardinals, with Murray wanting a new deal. After leading the franchise to their first playoff appearance since 2015, Murray is looking to seal his long-term future by getting a second contract.

However, he was not the quarterback Arizona gave an extension to on Monday afternoon; instead McCoy becomes the first Cardinals quarterback to secure new money in 2022.

McCoy appeared in eight games last season under head coach Kliff Kingsbury, starting in three of them. He completed 74.5% of his passes while throwing for 740 yards, three touchdowns, and an interception. Arizona went 2-1 in the games McCoy started in during a crucial stretch of the season.

Colt McCoy discusses Steve Sarkisian at Texas

Bobby Burton of On3’s Inside Texas was able to sit down with Colt McCoy recently and the two were able to discuss the current state of the Longhorns’ program with head coach Steve Sarkisian in charge. The legendary Texas quarterback complimented Sarkisian, saying he expects there to be an improvement in Year Two. However, he did warn fans about being impatient and expecting wins to come right away.

“He’s doing great,” McCoy said. “I’ve talked to (Sarkisian) many times. You talked about the penultimate years of Vince (Young) being there, all the way through 2009 — we won lots of games and I think, now, being removed from that as a fan it’s like, ‘what’s missing? What’s going on?’ Even for me, I get that way. When I left, it was like ‘we should win 10 or 12 games every year. I don’t understand.’ I think you go through coaching changes, different recruiting cycles and it takes time. I think for us, as fans, we’re a little spoiled.

“Not over the last 10 years but the life of being a Longhorns fan. The expectations are high and they should be. I think coach Sark definitely knows that. A little bit of grace for inheriting his football team and now going into the second year, I expect there to be a big jump and improvement. I think everybody does but it does take time to build a team exactly how you want it and get the players that you want and everybody buying into the system and the scheme of what they’re trying to do on both sides of the ball. I think you’re going to see a good jump.”