The Cardinals exercised the 2016 option on wide receiver Michael Floyd's contract Wednesday.

With Michael Floyd scheduled to become an unrestricted free agent after the 2015 season, the Cardinals officially exercised their fifth-year team option for the wide receiver Wednesday, putting him under contract through 2016.

"We determined that exercising the fifth year was the option that clearly made the most sense," General Manager Steve Keim said. "Michael has shown a lot of good things in his time with us and we fully expect him to make a step forward

this season. We have high expectations for him on and off the field and look forward to him delivering for us."

The move was not unexpected. Floyd, the 13th pick in the 2012 draft, is set to make $1.75 million in salary this season. His 2016 salary would be about $7.3 million, although it is guaranteed for injury only and allows the Cardinals flexibility if they decided to move on from Floyd after this season. The Cardinals could also still extend Floyd's contract after the season and adjust his 2016 pay.

Floyd had 47 receptions for 841 yards and six touchdowns in 2014, his statistics dropping off from the 65 catches for 1,041 yards he had in 2013. Coach Bruce Arians said he thought Floyd was a victim of the injury-induced quarterback shuffle the Cards went through last season, but echoed Keim's sentiments about expectations when talking about Floyd during the March NFL meetings.

"I think some frustration showed in his play sometimes," Arians said. "He still needs to hit a consistency level. He's a 1,000-yard player. He should have had 1,000 easily. But there were some balls we expect him to come down with and he didn't come down with and that's what is holding him down from being elite. He's proven what he can do."

The Cardinals, searching for a return man, could end up picking a wide receiver in this week's draft. In addition to Floyd's contract ending in 2016, Larry Fitzgerald is also set to reach free agency after the 2016 season.