Drew Brees $100 Million

Discussion in 'The National Football League' started by CloakNNNdagger, Jul 13, 2012.

  1. CloakNNNdagger

    CloakNNNdagger Site Contributor

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  2. Goldensilence

    Goldensilence hipster elite

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  3. Playoffs

    Playoffs Subscribed Contributor

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    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: Jul 13, 2012
  4. ChampionTexan

    ChampionTexan Site Contributor

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    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.
     
  5. CloakNNNdagger

    CloakNNNdagger Site Contributor

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    Mods please merge thread.
     
  6. Thorn

    Thorn Dirty Old Man

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    So, now Atlanta signs Hainsworth to fall on Brees's foot.
     
  7. RazorOye

    RazorOye Ayo

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    :poppinbottles:
     
  8. HOU-TEX

    HOU-TEX Ah, Football!

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    NFLN said it would be an even cap hit across all 5 years. 20 mill per year
     


  9. chicagotexan2

    chicagotexan2 IDBLDogDareU

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  10. HOU-TEX

    HOU-TEX Ah, Football!

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    Nevermind, that was wrong. Per PFT

    http://profootballtalk.nbcsports.com/2012/07/13/brees-gets-37-million-to-sign/
     
  11. Dutchrudder

    Dutchrudder COOL BEANS!

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    This is going to make it very hard for them to resign Jimmy Graham next year.
     
  12. Blake

    Blake MMQB

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    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.
     
  13. RazorOye

    RazorOye Ayo

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    I'm hoping those discussions started about 30 seconds after the Brees deal was cemented.
     

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