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Old 07-13-2012   #1
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Default Drew Brees $100 Million

http://bleacherreport.com/articles/1...ract-extension

Quote:
5-year deal worth $100 million ($60 million guaranteed)
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Old 07-13-2012   #2
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Default Brees Agrees to record contract

http://espn.go.com/nfl/story/_/id/81...ecord-contract



I am not sure how this impacts their cap... I mean if the terms are as they report....that's a 40 million dollar hit this year.
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Old 07-13-2012   #3
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Default Re: Drew Brees $100 Million

Chris Mortensen ‏@mortreport
@DrewBrees, #Saints reach agreement on 5 yr, $100-mill deal, including $40 mill in year 1; $60 mill guaranteed in 1st 3 yr. More on #ESPN



ESPN's Chris Mortensen reports QB Drew Brees and the New Orleans Saints have reached an agreement on a five-year, $100 million contract that includes a first-year take in 2012 of $40 million, according to league, players union, and team sources.
For all practical purposes, the guaranteed money is considered by all parties involved to be an NFL-record $60 million, though there are contractual, but unlikely, outs for the Saints before he would receive all of that sum.
The accord was struck Friday morning in the latest round of negotiations between Saints GM Mickey Loomis and Brees' agent, Tom Condon.
Brees's 2012 salary of $40 million is fully guaranteed. In 2013, the Saints will have a three-day window to release him after the waiver period begins (five days after the Super Bowl); if not, Brees gets another $15 million of fully guaranteed earnings, bringing his two-year total to $55 million. In 2014, the same three-day waiver scenario is in place be fore Brees is fully guaranteed another $5 million, with an additional $1 million in salary.
Under the assumption Brees is the team's quarterback for the next three years, he would make $61 million during that stretch, with $60 million fully guaranteed, the highest guaranteed total an NFL player has ever earned. Calvin Johnson's deal with the Lions, signed earlier this year was initially reported to guarantee $60 million, but a closer look found it only fully guaranteed $48.75 million.
While the waiver window gives the Saints an out, both the league and union view the $60 million as "guaranteed" because of the extreme unlikelihood that the Saints would want to have paid Brees $40 million for one year or $55 million for two years. The remaining $39 million to be earned in 2015 and 2016 is subject to the same waiver formula, bringing the potential grand total to $100 million over five years. No player in NFL history has averaged $20 million per year. Brees must still take a physical and sign the contract, which is considered a mere formality.

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Last edited by Playoffs; 07-13-2012 at 01:30 PM.
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Old 07-13-2012   #4
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Default Re: Brees Agrees to record contract

Quote:
Originally Posted by Goldensilence View Post
http://espn.go.com/nfl/story/_/id/81...ecord-contract



I am not sure how this impacts their cap... I mean if the terms are as they report....that's a 40 million dollar hit this year.
The article describes the $40 Million as the "First year take". Chances are the majority of it is signing bonus, which means that it will be amortized over the five years of the contract when determining the 2012 cap hit. Too early to guess at the details, but I'd bet Drew's entire 2012 salary that the Saints won't take anything close to a $40 Million cap hit for him in 2012.
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Old 07-13-2012   #5
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Default Re: Brees Agrees to record contract

Mods please merge thread.
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Old 07-13-2012   #6
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Default Re: Brees Agrees to record contract

So, now Atlanta signs Hainsworth to fall on Brees's foot.
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Old 07-13-2012   #7
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Default Re: Brees Agrees to record contract

:poppinbottles:
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Old 07-13-2012   #8
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Default Re: Brees Agrees to record contract

Quote:
Originally Posted by ChampionTexan View Post
The article describes the $40 Million as the "First year take". Chances are the majority of it is signing bonus, which means that it will be amortized over the five years of the contract when determining the 2012 cap hit. Too early to guess at the details, but I'd bet Drew's entire 2012 salary that the Saints won't take anything close to a $40 Million cap hit for him in 2012.
NFLN said it would be an even cap hit across all 5 years. 20 mill per year
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Old 07-13-2012   #9
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Default Re: Brees Agrees to record contract

Quote:
Originally Posted by Goldensilence View Post
http://espn.go.com/nfl/story/_/id/81...ecord-contract



I am not sure how this impacts their cap... I mean if the terms are as they report....that's a 40 million dollar hit this year.

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Old 07-13-2012   #10
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Default Re: Drew Brees $100 Million

Nevermind, that was wrong. Per PFT

Quote:
The new deal actually reduces Brees’ cap number dramatically, from $16.37 million to $10.4 million. Next year, his cap number will be $17.4 million. In 2014, the cap number will be $18.4 million. By 2015, when the new TV deals from 2014 hit the cap, Brees cap number will be $26.4 million. In the final year of the deal, the cap number becomes $27.4 million.
http://profootballtalk.nbcsports.com...llion-to-sign/
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Old 07-13-2012   #11
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Default Re: Drew Brees $100 Million

This is going to make it very hard for them to resign Jimmy Graham next year.
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Old 07-13-2012   #12
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Default Re: Drew Brees $100 Million

I dont see Brees getting that 27 million. If they still want him I am sure they will restructure the deal.

If Brees is worth 100/60 million guaranteed, Schaub should sit around 70/40.
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Old 07-13-2012   #13
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Default Re: Drew Brees $100 Million

Quote:
Originally Posted by Dutchrudder View Post
This is going to make it very hard for them to resign Jimmy Graham next year.
I'm hoping those discussions started about 30 seconds after the Brees deal was cemented.
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