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jtnc

Breaking Down Steve Smith's Deal

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jtnc    3,667

I just got the complete details on the contract extension receiver Steve Smith signed with the Panthers on Tuesday and they’re very interesting on several levels. It’s a three-year deal with the team holding an option for the fourth year and could be worth as much as $37.8 million.

The deal includes $16.8 million in guaranteed money. Smith received a $10 million signing bonus and comes out way ahead on what he’ll earn in 2012. In addition to the signing bonus, he’ll also earn $1 million in base salary. Smith had been scheduled to earn $7.75 million in the final year of his contract. The new deal gives Smith more money, but he also frees up significant salary-cap room for the Panthers, who had less than $500,000 available before this deal.

Smith had been scheduled to count $10.7 million against the cap this year, but the new deal drops that figure to $5.96 million.

In 2013, Smith’s base salary will rise to $3.75 million and that’s guaranteed. Smith also will earn a guaranteed $4 million in base salary in 2014. That’s also the year he can collect a $3 million bonus if the Panthers elect to pick up his option for 2016.

In 2015, Smith is scheduled to make $7 million in base salary. If he gets to the option year, his base salary will rise to $9 million.

Decent deal imo.

http://espn.go.com/blog/nfcsouth/post/_/id/33633/breaking-down-steve-smiths-deal-2

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TheRed    17,964

Get the mop out because surely someone will come in here and piss all over the floor in anger about over paying our best WR to ever put on a panthers uniform.

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Dex    11,975

It's Smitty. There is no price too high.

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PhillyB    40,334

so we just gained 5 mil in cap room by this extension, if i'm reading it right.

wtg hurney.

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