The Arizona Cardinals will soon have a franchise-altering decision to make. One year after extending quarterback Kyler Murray through 2028, the team changed its leaders, going to general manager Monti Ossenfort and head coach Jonathan Gannon to lead a rebuild.

So even if Murray is still young enough to be part of a rebuild, his contract is not as appealing to a team willing to start over. He's out for now, still recovering from an ACL injury he suffered in December.

Murray is already eligible to return from PUP, but the Cardinals will reportedly wait a couple more weeks before activating their quarterback — an easier decision to make based on how well Josh Dobbsh has played.

But the questions around Kyler Murray are not only about this season. On the contrary, they are much more long-term related.

Since taking over the team, Ossenfort has led an effort to build a solid foundation for the future. That's what motivated him to release wide receiver DeAndre Hopkins and to trade down from the third overall pick in the draft. With Murray, though, it's a more complex proposition.

According to ESPN's Dan Graziano, the Cardinals haven't fully decided what to do. The expectation is he will be with the team for the rest of this season, playing or not, and the team will evaluate its options in the offseason.

"Our scouts have already begun the process of preparing for the 2024 draft," general manager Monti Ossenfort said back in August. "They started that process quite frankly the day after the 2023 draft ended. So our guys are working hard. It doesn't matter if we pick, where we pick. We're going to be prepared to pick at any spot that we are. We have to be prepared."

Financial implications

Kyler Murray is slated to make $38.85 million in 2024. Even though it's a considerable amount even for NFL standards, it's a pretty manageable value for an above average starter, especially with a high ceiling.

If the Cardinals decide to move on, they would have $46.2 million in dead money in 2024, and then would be free from everything else. The acquiring team would absorb $35.3 million in guarantees for 2024, and the contract structure has rolling guarantees one year in advance until 2026 and before the season for the rest of the deal.

Under the new management, the Cardinals haven't feared investing in the quarterback position. They selected Clayton Tune in the fifth round, and also made a swap of 2024 fifth and seventh-round picks to acquire Josh Dobbs from the Cleveland Browns before the regular season.

Draft should determine the right path

The Arizona Cardinals' moves this past offseason allowed them to have extreme flexibility moving forward. Besides their own draft picks, they will also have the Houston Texans' first- and third-rounders, plus a third-rounder from the Tennessee Titans and more extra late picks. Before the season, the Cardinals were favored to have the first overall pick, but that isn't trending in that direction right now.

Even if they don't get one of the top two picks, they would still have the capital to move up and select Caleb Williams or Drake Maye.

Most likely, the draft position and its approach for the Cardinals will determine what the franchise will do. If they are in position to draft a top quarterback prospect, it makes sense to trade away Kyler Murray and get a younger player on a cheaper deal.

But if the Cardinals don't have the ammunition to get a high enough pick, keeping Murray is still a viable alternative.

Cardinals HC Jonathan Gannon drops an encouraging Kyler Murray injury update

Key update.